Comment Text:
10-002
COMMENT
CL-05902
From:
Sent:
To:
Subject:
harrahphotoman@gmail, com
Tuesday, April 13, 2010 12:54 PM
secretary
Proposed Speculative Position Limits on Energy
Ken Roper
19344 SE 29
Harrah, OK 73045-6335
April 13, 2010
David Stawick
Secretary, Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick:
I am writing in support of the CFTC's Proposed Federal Speculative
Position Limits that will reestablish speculative position limits on maj or
energy commodities. The American family is in trouble -- we are way over
our heads in debt (as a nation) and we are taxed to the breaking point.
We MUST do everything in our power to lower energy costs and give our
families and business a break!
Oil speculation by large Wall Street trading firms has resulted in
volatility in energy markets and price spikes in recent years. Supplies
are at record highs and demand remains weak and there is NO reasonable
explanation for price hikes and destructive price swings. Unless the CFTC
adopts the proposed rule, markets will continue to fluctuate wildly.
Position limits existed in energy markets until 2001 and currently apply
to agricultural commodities. CFTC should use its existing experience to
regulate position limits of speculators and prevent excessive
concentration in the energy markets, while ensuring that exemptions to
these limits afforded to real physical players such as fuel cooperatives,
public utilities, truckers and airlines are not exploited by big banks and
billionaire investors.
Sincerely,
Ken Roper
4052029561
