Comment Text:
10-002
COI4MENT
CL-02690
April 16, 2010
David Stawick
8~cretary
United States Commodity Futures Trading Commission
Three Lafayette Centre
1155
21st Street,
NW
Washington, D.C. 20581
Subject: Comments on P~oposed Speeulatlve Position Limits for Energy
I am writing this letter no ~Lrge you to pass l~gisla~ion controlling
excessive speculation in the energy market.
I operate a propan~ business in the State of Arkansas whsre we provide
propane to around 4,000 homes and businesses. This product is used for
everything from engine fuel to heat for poultry farms and homes, I am
very concerned with the extreme f],ucuatlon I see in priees in the energy
market. In years before speculators the Drice chnnged very little over
s period of several months, Now the price changes every d~y and as much
as i0 to 12 e~nts in one day. Daily flucuation in prices such as this
make ~t very d±fficul~ to operate this business. It is extremely import~n~
~o consider the consumer in all =his. As you know our economy ~s very weak
now to say the least and this is caused, or at least made much worse, by
Wall S~ree~ speculators. ~ have s typical retail business providing
energy
to consumers
~ust like several thousand others across this country.
We have customers who a~s good honest, hardworking taxpayers and citizens
who ~an't affor@ to keep their homes warm during winter months because
the price of heating fuel %s being inflated so much hy Wall Street traders.
I think it is completely deplorable that Wall S~raet has been allowed
to
affect energy prices in such a dras=ic way. 011 prices should be determined
by the fundamentals of supply and demand. If speculative trading were
removed from the ~neTgy mark~ oil would re~urn to a much lower level which
would affect many segments of our economy in a very positive way. %n recent
times we hear "stimulus packages" mentione4 many times which is in~ended ~o
revitalize our e~onomy. What be~ter stimulus could there/t~an to put
immediate money into the hand8 of the consumers rather than in ~he greedy
pockets of Wall S~ree~,
As a business owner and a vary concerned citizen of =hls country I implore
you ~o pass legislation ~o control excessivevspeculation by Wall Street.
I do appre¢~[e the ~ortun±ty to comment on the proposed legislation.
//
Pion~'er P~o~ Company, Inc.
P. 0. Box 8~
Harrison, AR 72687
