Comment Text:
I have worked for a Maine-based petroleum marketer and retailer for 25 years now, all of my professional career. Our company has been in business serving the people of Northern New England for 102 years and is still owned by the same family that started the company in the early 1900's. As the company's Vice President leading a team of 1000+ employees, I am writing to voice my support for immediate adoption of proposed rule (RIN 3038–AD15 and 3038–AD16 Position Limits for Derivatives).
This legislation is long overdue. As I watch the market, it is no longer the exception to see large swings throughout the day. And today, these swings are all on the upside as the Wall Street investors and speculators drive prices higher by injecting a "fear premium" with the unrest in the Middle East. These investors are moving prices higher on the backs of my customers, many of whom struggle to heat their homes and fuel their cars for their long commutes with prices at this level. Perhaps I could understand this better if we had a supply problem. We do not. Petroleum supply is at or near all time highs. The laws of supply and demand no longer apply. The laws of Wall Street have taken over. Enough is enough. After years of highly volatile commodity markets, the CFTC is finally poised to impose position limits for physical commodities. I respectfully request your support of this rule.
Sincerely,
Deanna Sherman
