Comment Text:
10-002
COMMENT
CL-08359
From:
Sent:
To:
Subject:
Durchholz, Dale
Monday, April 26, 2010 1:04 PM
secretary
Comments on Industry Submissions: Energy position limits
FR Doc 2010-1209[Federal Register: January 26, 2010 ~Volume 75, Number 16)
Proposed Rules
Page 4143-4172
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
DOCID:fr26ja10-17
Page 4143
Dear Sirs:
Instead of forcing position limits in the energy futures markets, the CFTC should be working with the industry to develop
effective tools for the general public to "lock in" energy prices like the big end users can do by using futures, options, and
other derivatives.
The use of these tools over the years has helped the food industry limit the impact of basic commodity volatility on retail
food prices.
I've often asked why the general public isn't offered products to help them mitigate the volatility of energy prices on the price
they pay "at the pump." Futures, options, and other derivatives are designed to help people manage their risk, but yet no one
has done anything for the individual consumer.
That in my opinion would be a more effective solution than limiting the role of speculative trading, especially when it can be
shown that speculative trading was not largely responsible for 2008's rise in energy prices. Limiting speculation will do
little to contain commodity inflation when forces outside of the U.S. are having an increasingly larger impact on our
commodity prices, energy in particular.
Dale L. Durchholz
18976 High Dr.
Bloomington, I1 61705
[email protected]
309-557 -6854
