Comment Text:
10-002
COMMENT
CL-08382
From:
Sent:
To:
Subject:
Bill McKibbin
Monday, April 26, 2010 9:14 AM
secretary
Speculative Position Limits for Energy (File # 10-002)
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.
In considering the rule, Commissioners must look past opposition by the financial community and
remember the affect that excessive speculation has on businesses like mine, my consumers and the
broader economy. It should establish restrictive speculative position limits, and implement them
expeditiously, before we see a repeat of the 2007-2008 energy bubble and another major shock to a
country still recovering from recession.
Limits similar to other commodities should exist for energy futures and options
contracts.
Thank you,
Bill McKibbin
