Comment Text:
As a private UK citizen I am writing to express my support for the Commission’s efforts to implement the Dodd-Frank Act, especially reforms aimed at limiting excessive speculation in food and energy commodities.
While many factors contribute to today’s highly volatile commodity prices, it is clear that excessive speculation is partially responsible, as shown in dozens of studies by members of respected institutions such as Princeton, MIT, Citigroup, the Petersen Institute, the University of London, Yale, UNCTAD, the FAO, and the U.S. Senate.
I urge the Commission to implement the proposed rules regarding aggregate speculative position limits to prevent excessive speculation. At this time of fragile economic recovery, we should not allow speculators to unduly affect food and energy prices across the globe.
Congress called for exemptions from these limits for bona fide hedgers. I urge that the Commission define that term in the strictest sense possible, limiting exemptions to businesses that deal in physical commodities.
Yours sincerely
Barbara Crompton
