Comment Text:
To whom it may concern:
I am writing you to REQUEST that you impose and enforce the Wall Street Reform Act and the Dodd-Frank Rules in order to reduce the cost of gasoline and energy for average American consumers like me. I am calling on you to regulate the speculation of oil futures and to in doing so reduce the price of energy for the American people.
# Wall Street gambles on oil futures which drives up the price of gasoline artificially
# Congress passed protection measures against this and gave the powers of enforcement to a new agency the U.S. Commodity Futures Trading Commission or CFTC
# The CFTC has yet to implement these rules under the Wall Street Reform, Dodd-Frank Act
# In a new report entitled “How Speculation is Affecting Gasoline Prices Today,” authored by Robert Pollin and James Heintz with the University of Massachusetts, Amherst and released by Organize Now today the authors point out that if this market was regulated tomorrow it would drop gas prices by 82 cents immediately.
# A decade ago, Wall Street speculators controlled less than 30% of the oil futures market, but today control more than 70%.
Sincerely,
Robert Ziegler
1132 Castle Wood Ter Apt 114
Castle Wood
Casselberry, FL 32707
