Comment Text:
10-002
COMMENT
CL-05456
From:
Sent:
To:
Subject:
[email protected]
Tuesday, April 13, 2010 12:34 PM
secretary
Proposed Speculative Position Limits on Energy
John Olesky
217 N. Thomas Road
Tallmadge, OH 44278-1776
April 13, 2010
David Stawick
Secretary, Commodity Futures Trading Commission
Three Lafayette Centxe
1155 21st Stxeet, 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 major
energy commodities.
The ramping up of oil prices contributed substantially to l~e near-Great
Depression situation in l~e U.S. economy. I am SO tired of a few making
billions at the expense of millions of people.
It's time that our government protects US and not l~e rich. I only want
what's fair, and what will help stimulate our economic recovery. After
all, isn't that what we all want, including President Obama, who faces a
daunting task and is doing what he can to pull us out of l~is mire created
by the previous administrations.
Rampant oil speculation by large Wall Street trading firms has resulted in
extxeme volatility in energy markets and unwarranted price spikes in
recent years. Given that supplies are at record highs and demand remains
weak, fundamentals cannot explain recent price hikes and deslxuctive price
swings. Unless the CFTC adopts l~e proposed rule, markets will continue to
fluctuate wildly.
Energy consumers desperately need stability in the marketplace. I
encourage l~e CFTC to adopt l~e Proposed Federal Speculative Position
Limits.
Thank you.
Sincerely,
John Olesky
330-630-7769
