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Comment for Proposed Rule 75 FR 4143

  • From: Tony Pistillli
    Organization(s):

    Comment No: 16604
    Date: 4/13/2010

    Comment Text:

    10-002
    COMMENT
    CL-07604
    From:
    Sent:
    To:
    Subject:
    aj pistilli@gmail, corn
    Tuesday, April 13, 2010 11:59 AM
    secretary
    Proposed Speculative Position Limits on Energy
    Tony Pistillli
    15315 E Sierra Madre Dr
    Fountain Hills, AZ 85268-1718
    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,
    Tony Pistillli
    480 836 4206