Comment Text:
Sir,
Before the Commodities Futures Modernization Act of 2000 was signed into law, I was able to buy gasoline at most retail outlets for 99 cents a gallon. Since the Act was enacted gas has been well over $4 dollars a gallon twice and the average has been well above $2 dollars a gallon.
I support the Dodd-Frank Act to help rein in the speculation of oil and gas futures. The commodities act of 2000 has opened the door to ramped speculation. Oil clearly doesn't follow the laws of supply and demand. Please consider regulation to help limit or eliminate speculation without delivery. Meaning if someone buys this commodity they must take delivery within a month.
Thank you
Sincerely
Jack L Sontag
