Comment Text:
Commission Members, Commodity Future Trading Commission,
I am attaching a letter voicing my support and immediate adoption of the proposed rule on the speculative position limits for commodities ( RIN 3038-AD15 and 3038-AD16 Position Limits for Derivatives).
The passage of this legislation is vital to the continued economic recovery of this nation. Market volatility is being driven by non commercial interests particularly in the energy and food industries. We have seen energy futures rise in price by almost $ 1.00 per gallon in the past six months. Demand and production are essentially the same so that rise in prices must be attributed to the rampant speculation that is being allowed to take place by non commercial interests. They have ruined the market for commercial hedgers ( I am one of them) that use the market as it was intended, for the protection of consumers from wild and unpredictable price swings. This rise in energy prices will have a trickle down effect that I believe will ultimately stall the glimer of economic recovery that is currently occuring in this country.
I urge you to read the attached letter and act favorably to pass this legislation.
Sincerely,
Randall J. Lohr
Owner & Vice President
Guardian Fuel & Energy Systems, Inc.
