Comment Text:
I am Michael Satterwhite. My wife and I are efficient and own only one car. She commutes to work some days and bicycles a good number of days. I work from home. The majority of our gasoline-fueled travel is back and forth between Flagstaff and Phoenix where our daughter, son-in-law and granddaughter live or to the Pacific Northwest where most family members live.
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.
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.
