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Comment for General CFTC CFTC and SEC Staff Public Roundtable Discussion on Proposed Dealer and Major Participant Definitions

  • From: Larry Smith
    Organization(s):
    Individual

    Comment No: 47724
    Date: 7/7/2011

    Comment Text:

    Please consider a suggestion to convince yourselves that Speculators are dominating Oil prices: "Leak" a hint that you are going to set rules curbing excess Oil speculation. Since this has nothing to do with supply/demand, if Oil drops sharply you know there are too many Speculators. However, it is then very important to follow through and set rules, otherwise the price will rebound. Please note that the effects of CME raising margins to curb speculation have remained whereas the initial effects of the SPR tap have not. Fewer Speculators have a much bigger effect than a little more supply.

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