Comment Text:
I feel that speculation in the food and energy commodities markets should be strictly controlled. According to a recent New York Times article written by GRETCHEN MORGENSON on September 24, 2011 titled Speculators Get a Break in New Rule, numerous academic studies and the Senate Permanent Subcommittee on Investigations have stated that there is a direct positive relationship between speculation and food and energy prices paid by the average consumer. Severely restricting speculation will ensure that the prices consumers pay for food and energy are set by supply and demand, not speculators. I agree with Senator Bill Nelson that the trader's position limit should be set at five percent, not the CFTC's proposed twenty-five percent.
