Energy futures
Senators Feinstein and Stevens Introduce Legislation to Limit Excessive Speculation in Energy Markets by Institutional Investors
By admin - Posted on June 16th, 2008
Measure would level the playing field in energy futures markets
June 13, 2008 -- Washington, DC – In the wake of growing concerns about the impact of speculation, U.S. Senators Dianne Feinstein (D-Calif.) and Ted Stevens (R-Alaska) have introduced legislation to require the Commodity Futures Trading Commission (CFTC) to impose the same position limits on institutional investors to which other investors now are subject. This legislation would essentially level the playing field in energy futures markets.
Under current law, CFTC is required to impose speculation limits on the size of energy trader positions. However, in practice, CFTC regularly exempts institutional investors from position limits, when investors execute their trades through brokers or dealers. » read more »
Durbin: It's Time To Put More Cops On The Futures Market Beat
By admin - Posted on June 10th, 2008
June 9, 2008 -- WASHINGTON, D.C. – With gas prices reaching an all-time high today, United States Senator Dick Durbin (D-IL) called for a dramatic increase in the resources for the Commodity Futures Trading Commission (CFTC), the federal agency charged with overseeing America’s oil markets.
“What led to the record increase in the price of oil? The truth is that no one knows. Not the CFTC. Not the Energy Information Administration, the Federal Energy Regulatory Commission, or the Federal Trade Commission. This issue is much too important to the American people to allow this to continue. Enough is enough. Let’s get to the bottom of this," Durbin said. » read more »
About Time the Feds Investigated Energy Futures Market
By admin - Posted on June 2nd, 2008
Statement of Joan Claybrook, President, Public Citizen
May 30, 2008 -- "We applaud the Commodity Futures Trading Commission (CFTC) for publicly acknowledging what most educated observers have been saying for months: Wall Street speculators are reaping unconscionable profits by exploiting and manipulating the unregulated energy trading markets.
Commodity traders have pushed oil prices far higher than what can be explained by basic supply and demand. Under mounting pressure from Congress, the trading commission announced this week that it has been investigating oil trading practices for the past six months. » read more »
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