Comment Text:
Peak Oil is actually happening, and I also understand why various foreign and domestic factors affect the price of oil and gasoline. HOWEVER, AN IMPORTANT FACTOR IN PRICE INCREASES AND VOLATILITY IS THE EXCESSIVE SPECULATION by people who are essentially GAMBLING about whether the price will go up or down.
The price of oil directly affects the price of food and other essential commodities that ordinary people like me buy.
I STRONGLY URGE YOU TO TAKE BOLD ACTION TO STOP THE EXCESSIVE GAMBLING IN THESE VITAL COMMODITIES MARKETS.
I'm not alone in recognizing that excessive speculation is a factor in price increases and price volatility. DOZENS OF STUDIES HAVE SHOWN THIS -- studies by respected institutions such as Princeton, MIT, Petersen Institute, University of London, Yale, the United Nations and the U.S. Senate.
I URGE YOU TO ACT BOLDLY -- AND TAKE ACTION AS STRONG AS THE LAW ALLOWS -- to impose STRONG, FIRM LIMITS -- without exemptions or exceptions -- to stop the gamblers on Wall Street and elsewhere from abusing consumers and wrecking our economy.
Thank you.
