Speculation

The mention of Allen Iverson's possible return to the 76ers touched off a firestorm of interest among the players the likes of which they haven't seen since trading the all-star point guard in 2006. On Saturday, that was exactly the news: The Sixers are considering reuniting with Iverson, who earlier this month parted ways with the Memphis Grizzlies after playing only three games. Last night, before the Sixers played the San Antonio Spurs, talk centered on the probability of Iverson's return.

The rumored trade of Cole Hamels to somewhere for something has gotten back to Phillies general manager Ruben Amaro Jr. In short: It's not happening. "We have no thoughts of trading Cole Hamels," Amaro said at baseball's general managers meetings yesterday. "I don't know where those rumors are coming from, but that's exactly what they are. Cole Hamels is our pitcher and we're keeping him, and I'm glad to have him. " Amaro envisions Hamels bouncing back from this year's disappointing season and being a top-of-the-rotation twin with Cliff Lee next season.

More than a month ago, Gov. Rendell approached Senate Majority Leader Dominic Pileggi (R., Delaware) with a question. A spot was coming open on the Philadelphia School Reform Commission, Rendell told Pileggi. Was Pileggi interested in recommending someone for him to consider appointing? "I told him I would think about it," Pileggi said. "I told him I would see who was interested in serving, someone who I thought would add to the board. " The spot in question belonged to Heidi Ramirez, who shocked the school community Wednesday by resigning her seat.

ST. LOUIS - Bob Costas couldn't help himself. When it came time to announce the American League's starting pitcher for tonight's All-Star Game at Busch Stadium, he prefaced his remarks: "Representing, at least for the moment, the Toronto Blue Jays . . . " Righthander Roy Halladay, sitting at the dais, laughed along with the rest of the crowd. Ever since Jays general manager J.P. Ricciardi announced recently that one of baseball's best pitchers might be available for the right price before the July 31 trading deadline, speculation about where Halladay might end up has been rampant.

One of the most basic concepts of economics is the law of supply and demand, which helps determine the price of goods, services, and commodities. Unless, of course, that commodity is crude oil. Just ask the motorists getting gouged at the pump by soaring gas prices what happened to basic economics. The recession has helped to drive down demand for oil around the world. At the same time, supplies have increased 20 percent from a year ago. Yet, despite the economic slump and ample supply, gas prices have continued to climb.

Raul Ibanez has a message for those who say his spectacular offensive performance in a Phillies uniform could be a result of performance-enhancing drugs. "I'll come after people who defame or slander me," he said before last night's game against the New York Mets. "It's pathetic and disgusting. There should be some accountability for people who put that out there. " A column in yesterday's Inquirer brought to light an Internet blogger who wondered if Ibanez had used such drugs.

IF YOU WERE hoping for the most contested election results since Bush-Gore 2000, we're sorry to inform you that Adam Lambert will not be taking his "American Idol" defeat to Kris Allen to the justices of the Supreme Court. Or even to judges Randy, Kara, Paula and Simon. The tainted texting that at first was believed to have given Kris an edge has been diminished both by AT&T and Fox. The problem stemmed from what AT&T called a few overeager employees helping Allen fans at an Arkansas viewing party power-text multiple votes for their hometown hero.

Foes of regulation keep insisting that commodities speculators haven't affected oil prices, but the evidence keeps mounting. Consider Vitol Group, a Swiss energy company. By early June, Vitol had bought nearly $8 billion worth of oil futures contracts on the New York Mercantile Exchange. That equaled about 57.7 million barrels of oil - more than three times the amount consumed by the United States in a day. At one point this summer, a single energy trader held 11 percent of all oil contracts on the NYMEX.

With the campaign trail to himself, Republican presidential candidate John McCain stood in front of a new fuel-efficient locomotive at a General Electric Co. factory here yesterday and argued that he was the candidate of "hope" for the economy and energy independence. While his Democratic opponent, Sen. Barack Obama, is vacationing in Hawaii, McCain began two days of campaigning in Pennsylvania with former Gov. Tom Ridge. McCain was effusive in his praise of Ridge, saying he was an example of putting country before self.

Congress has a chance to deliver some needed relief at the gas pump before taking its August vacation. A worthy bill introduced in the Senate would limit the rampant speculation in oil futures that has contributed to excessive spikes in fuel prices. The legislation, sponsored by Senate Majority Leader Harry Reid (D., Nev.) and other Democrats, would give regulators more authority to prevent and punish price manipulation in commodities markets. While ordinary market forces have caused oil prices to rise, many analysts also believe that speculation by investors has added from $30 to $60 to the price of a barrel.