Comment Text:
Mark Longietti
2213 Freeway, Unit 2-E
Hermitage, PA 16148
March 25, 2011
David Stawick
Secretary, Commodity Futures Trading Commission Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick:
I am writing to you as a Member of the Pennsylvania General Assembly and cannot tell you how important that it is to adopt rules which limit speculative positions and ensure transparency. The price of oil and gasoline and their effects on other commodities is crippling our economy just as we are crawling out of a severe recession. I realize that you have many considerations to deal with in adopting these rules, but please consider, as a high priority, measures that would limit speculation and return us to a rational market, such as those supported by Stop Oil Speculation Now! There is no good reason why prices should soar when the stock market goes up, inflation fears creep in, or due to unrest in Libya, which controls only 2% of the world's oil production. The price of oil affects our national security and our economic security and there has to be a better way to establish a price, namely one that is not influenced by
speculators. Thank you.
Sincerely,
Mark Longietti, PA State Representative
724-981-4655
