Comment Text:
10-002
COMMENT
CL-03191
From:
Sent:
To:
Subject:
[email protected]
Tuesday, April 13, 2010 12:59 PM
secretary
Comments on Proposed Speculative Position Limits for Energy (File # 10-002)
Kelly Marie
J&S Oil
PO Box 216
Gardiner, ME 04345-0216
April 13, 2010
David Stawick
Secretary, U.S. CFTC
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick:
Two years ago, home heating oil costs hit an all time high. Predatory
speculation, not shortage of fuel, drove the price to $4 per gallon.
Months later, when it became abundantly clear that the people could not
afford that, the bottom dropped out of the market. But by then, many
retailer, such as our company, were locked into contracts at the higher
rates, as were our pre-buy customers. We all took a bath and there were
many bitter customers and some companies were forced out of business by
that unnecessary inflation and subsequent collapse of the energy futures
market.
Why is it that most every other commodity traded is subject to
limitations, and something so many of us rely on, especially those of us
in cooler climates, is not controlled?
We no longer have a president from an oil rich state, with fat cat oil
friends to answer to. It is time to take control and place limits on the
predatory speculation that is driving our fuel market.
At present, the speculators at at it again. Fuel prices are steadily
climbing. This is a time when our unemployment is very high and so few
can afford to heat their homes, at present rates. With prices escalating
so quickly and unneccesarily, it is time to put a halt to this NOW!
I am writing today to endorse comments submitted by the Petroleum
Marketers Association of America and the New England Fuel Institute
submitted on April 9, 2010 on the proposed rule to implement speculative
position limits for futures and options contracts for natural gas, crude
oil, heating oil and gasoline. I am also writing to add my own thoughts
on this matter to the public record.10-002
COMMENT
CL-03191
Thank you for your consideration.
Sincerely,
Kelly
Marie
207-622-1609
