Soros To Testify Tuesday On Capitol Hill

Controversial hedge fund manager George Soros will testify Tuesday morning before the Senate Commerce Committee.

Soros will appear at a hearing exploring energy market manipulation, along with Terrence Duffy, the executive chairman of the Chicago Mercantile Exchange.

Listed as the 80th richest person in the world by Forbes Magazine, Soros has been a major benefactor to many liberal causes and was very active in effort to defeat George W. Bush in 2004.

While Soros is praised by many on the left for his philanthropic work with the Open Society Institute, he is vilified by many Republicans for his support of organizations like MoveOn.org.

The hearing itself will explore the impact of energy market manipulation on fuel prices. As gas prices surge over $4 per gallon, many in Congress have highlighted the role financial speculators may be playing in artificially inflating the price of oil.

"There is an orgy of speculation in the oil futures market," Sen. Byron Dorgan (D-N.D.) said last month.

"Speculators are using money they don’t have to control oil they will never use. This may help the speculators profits, but it hurts American drivers and our economy because it keeps oil prices artificially high."

The hearing begins at 10am in the Russell Senate Office Building.