Comment Text:
10-002
COMMENT
CL-01424
From:
Sent:
To:
Subject:
tj ones 10@tampab ay. rr. com
Wednesday, April 14, 2010
8:03 AM
secretary
Proposed Speculative Position Limits on Energy
Terrence Jones
31096 Inwood Circle
Brooksville, FL 34602-7621
April 14, 2010
David Stawick
Secretary, Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick:
I am writing in support of the CFTC's Proposed Federal Speculative
Position Limits that will reestablish speculative position limits on maj or
energy commodities. As Senator Bill Nelson recently wrote me in an e-mail
"To stabilize gas prices, we must rein in unbridled and unregulated
speculators. Gas prices fluctuate wildly because speculators, who behave
like condo-flippers, are allowed to buy and resell oil contracts. Until we
stop that, we'll continue to be gouged at the pump".
This rule will provide stability to the marketplace and help prevent
future price bubbles. The CFTC must quickly approve a strong rule to
protect America's struggling economy. Wall Street's speculative trading
in oil not only hurts the economy, but hurts every American who pays
excessive prices at the pump, for groceries, home heating oil and
everything related to transportation.
Energy consumers desperately need stability in the marketplace. I
encourage the CFTC to adopt the Proposed Federal Speculative Position
Limits before volatile fuel prices further harm the country's already
weakened economy.
Sincerely,
Terrence Jones
352-799-8761
