Comment Text:
10-002
COMMENT
CL-02758
From:
Sent:
To:
Subject:
[email protected]
Monday, April 12, 2010 6:43 PM
secretary
I Urge You to Impose Speculative Position Limits in Energy Futures Contracts
Jay McKeeman
3831 N. Freeway Blvd. #130
Sacramento, CA 95834-1933
April 12, 2010
David Stawick
U.S. Commodity Futures Trading Commission
1155 21st Street, NW
Washington, DC 20581
Dear David Stawick:
I am writing today to endorse comments submitted by the Petroleum
Marketers Association of America and the New England Fuel Institute
submitted on April 9, 2010 on the proposed rule to implement speculative
position limits for futures and options contracts for natural gas, crude
oil, heating oil and gasoline. I am also writing to add my own thoughts
on this matter to the public record.
The evidence is clear - market forces are not driving petroleum prices,
speculation is. The world is awash with oil and fuel. Yet we are at
$80+/bbl crude prices.
We need controls - as outlined in the PMAA letter - to make sure the
nation's consumers - and economy - are not being whip-sawed due to a run
from the poker table, to the dice table, by speculative interests.
Thank you for your consideration.
Sincerely,
Jay McKeeman
916-646-5999
