Comment Text:
I am Daniel F. Kesselring, a retired Federal Employee. My spouse is a retired Teacher. Although fuel is not one of our major expenses now, food is still as important to us as it ever was and, of course, energy expense is part of the cost of food.
I urge you to curb excessive gambling in commodities markets like food and oil. In my opinion, basic commodities essential to basic living should not be the target of speculation by gamblers.
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. And, since speculation on fossil fuel energy ripples throughout the economy, these spikes create a broad array of hardships. 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.
