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Comment for Proposed Rule 76 FR 4752

  • From: John B Hubbard
    Organization(s):
    Hubbard Insurance, Inc.

    Comment No: 33484
    Date: 3/28/2011

    Comment Text:

    I have read that the increase in the price of gasoline in 2008 was not caused by a shortage of petroleum or of refining capacity (Rex Tillerson, President of Exxon Oil), and that the only explanation for the increase was speculation in the commodities market by banks, Wall Street investment firms and hedge funds. I do not wish to pay an additional cost to speculators when I buy gasoline at the pump. This is a corruption of the futures market which should have never been permitted, and I trust you will put an end to self-serving speculation in the commodity markets as it makes the markets less efficient and serves only to enrich speculators while harming the general public.

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