Comment Text:
My name is Sheri Snyder and my husband, Jeff, drives nearly and hour one way to work each day. Our budget is very restrictive and high gas and food prices are a hardship. I barely drive in my own car at all any more. I urge you to curb excessive gambling in commodities markets like food and oil.
While many factors contribute to today’s highly volatile commodity prices, it is clear that excessive speculation is partially responsible, as shown in dozens of studies by respected institutions such as Princeton, MIT, Petersen Institute, University of London, Yale, the United Nations and the U.S. Senate. THERE IS NO current petro. shortage--since petro. supply is at an 18% high. There is no need to chant "Drill Baby Drill--we've apparently already been doing enough of Wthat.
Speculation thus imposes financial hardships on families around the country. Sudden rises in gas and food prices force us to make difficult decisions and sacrifices. Especially right now, with so many families struggling, and unemployment barely beginning to decrease, we cannot allow speculators to unduly affect our food and gas prices.
Please put in place effective position limits rules, and do not allow them to be undermined by exemptions or exceptions, or allow Wall Street gamblers to escape them. It is my understanding that laws already on the books can be enforced to stop this (including the financial reform law passed in the last session of Congress)--please make sure that all obstacles to enforcement are removed! When Michael Dunn on the CFTC retires, he should be replaced with someone who will support Wall Street regulation, especially since Republicans have blocked funding for the SEC & CFTC.
Thank you for your consideration.
