Comment Text:
10-002
COMMENT
CL-07544
From:
Sent:
To:
Subject:
[email protected]
Tuesday, April 13, 2010
10:48 PM
secretary
Proposed Speculative Position Limits on Energy
amy pickering
90 bruynswick road
New Paltz, NY 12561-4107
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. This rule will provide stability to the marketplace
and help prevent future price bubbles.
The CFTC must quickly approve a strong rule to protect America's
struggling economy. Wall Street's speculative trading in oil not only
hurts the economy, but hurts every American who pays excessive prices at
the pump, for groceries, home heating oil and everything related to
transportation.
Rampant oil speculation by large Wall Street trading firms has resulted in
extreme volatility in energy markets and unwarranted price spikes in
recent years. Given that supplies are at record highs and demand remains
weak, fundamentals cannot explain recent price hikes and destructive price
swings. Unless the CFTC adopts the proposed rule, markets will continue to
fluctuate wildly.
Energy consumers desperately need stability in the marketplace. I
encourage the CFTC to adopt the Proposed Federal Speculative Position
Limits before volatile fuel prices further harm the country's already
weakened economy.
Sincerely,
amy Pickering
845-255-5337
