Comment Text:
I am Jose Navarro, I drive 50 minutes to and from work every day, have to pay a $4 toll each way, and our family feels the effects of every increase in the price of gas.
I have to work because my social security check is not enough for the high cost of living; increasing food and oil is virtually making it impossible for me to stop working.
I urge you to curb excessive gambling in commodities markets like food and oil. Oil consumption has decreased exponentially during the last three years, and still speculation has driven to an excessive level. High cost of commodities, and no bank interests paid to savings accounts, are crushing the middle class and fixed income recipients.
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.
Thank you for your consideration.
