Today, Senator Pat Roberts voted against the Stop Excessive Energy Speculation Act. Experts believe market speculation is contributing to the high price of oil.

The bill would have been an important first step towards reducing the price of gas.

"When you have Sen. Pat Roberts outsourcing energy policy to the big oil companies, it’s no wonder we get $4 gas and they get $600 billion profits," said Kansas Democratic Party Executive Director Mike Gaughan. "Sen. Roberts have proven that he cannot be trusted to help break America’s dependence on oil."

The Stop Excessive Energy Speculation Act would have strengthened the Commodity Futures Trading Commission, limited speculation by traders who are not trading actual physical petroleum products, closed the "London Loophole" for energy commodities trading, and enhanced transparency and accountability in the energy commodities market.

The "London Loophole" refers to the authority of the Commodity Futures Trading Commission to detect, prevent, and punish manipulation and excessive speculation on exchange markets. U.S. crude oil and gasoline futures are traded primarily on exchanges in New York City and London. The CFTC's authority to oversee foreign markets is currently weaker than its authority over the New York market.

Kansas are ready to invest in alternative energy," said Gaughan. "It's good for our state and it's good for the world. But, Sen. Roberts keeps voting to subsidize big oil rather than support Kansas businesses and entrepreneurs. It's time for Roberts to support Kansas - NOT his big oil buddies."