Comment Text:
I am Julia Fontaine, I drive 30 minutes to and from Wichita Falls every time we have appointments or errands and our family feels the effects of every increase in the price of gas. Being disabled we have frequent appointments in town. Additionally the disabilities limit the amount of time we can spend at any one time in town, so we often drive back and forth 5 times a week.
I urge you to curb excessive gambling in commodities markets like food and oil. It is no different than going to a casino, except perhaps the floor workers have on more clothing. Profit and loss are determined by random events and educated guesses, not skill, intelligence or good sense. The experiences of 2008, with overly inflated oil prices and the impact that had on everything, from gas to groceries, everywhere in the world caused such a near disaster that our nations' fiscal health is still at risk, at the very time we see the same thing happening now.
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.
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. If these individuals wish the thrill of gambling, we have casinos in nearly every state, there is no need to batter the GNP or my family's budget to satisfy their addiction.
Thank you for your consideration.
