Comment Text:
10-002
COIMMENT
CL-06016
From:
Sent:
To:
Subject:
[email protected]
Tuesday, April 13, 2010 2:34 PM
secretary
Proposed Speculative Position Limits on Energy
Glen Anderson
5015 15thAve SE
Lacey, WA 98503-2723
April 13, 2010
David Stawick
Secretary, Commodity Futures Trading Commission
Three Lafayette Centxe
1155 21st Stxeet, NW
Washington, DC 20581
Dear Mr. Stawick:
I STRONGLY SUPPORT the CFTC's Proposed Federal Speculative Position
Limits.
This rule will reestablish speculative position limits on major energy
commodities. It will stabilize the marketplace and help prevent future
price bubbles.
The CFTC must quickly approve a strong rule to protect America's
struggling economy. Wall Slxeet's speculative trading in oil not only
hurts l~e economy, but hurts every American who pays excessive prices at
l~e pump, for groceries, home heating oil and everyl~ing related to
txansportation.
Our
tax
dollars were used to bail out large Wall Slxeet firms when they
were on lfie brink of bankruptcy. It is these same institutions that
pushed lfie price of gasoline well past $4 per gallon in 2008 by gambling
on oil and continue to profit at every American's expense.
Rampant oil speculation by large Wall Street trading firms has resulted in
exlxeme 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 destxuctive price
swings. Unless the CFTC adopts lfie proposed rule, markets will continue to
fluctuate wildly.
YOU ARE RESPONSIBLE FOR PROTECTING THE PUBLIC INTEREST. PLEASE PROTECT US
FROM THE GREEDY SPECULATORS.
Sincerely,
Glen Anderson
3604919093
