Comment Text:
Chairman Gensler -
Last year's Dodd-Frank Financial Reform Law was suppose to let the Commodity Futures Trading Commission regulate speculators and more importantly the "swaps" that are currently running wild in oil futures trading.
I understand that in January of ths year you began this process of regulation.
As we are now in October there still appears to be no formal implemation out her in the marketplace.
We are getting killed out here with this $4 gasoline, especially with demand really way way down due the slow growth of our economy. I understand that there are many factors that also contribute to the cost of petroleum products ( special formulations, oxygenation, ethanol additives etc.)
But, I sincerely believe that - we are not experiencing anything other than massive manipulation of oil commodities through lack of margin requirements and no perceivable risk by the traders involved. I assume they are some pretty large institutions not some small guys.
Can you please expedite the implementation of the Dodd-Frank Financial Reform Law so that this wild speculation can be curtailed?
Thanking you in advance,
Mark Milbrath
Santa Clara, Utah, 84765
Sent from my iPad
