Comment Text:
Dear Chairman Gary Gensler:
It's hard to believe that members of the Commodity Futures Trading Commission have absolutely no idea that the middle class is crumbling. Our country has been struggling to free itself of recession. Now is most definitely NOT the time for the Commission to continue to allow oil speculators to buy and sell oil futures simply to make a profit, and in many cases, never take delivery or use the oil. It may simply be a game to yield larger profits for them while in reality, it truly does lower the standard of living for many who must choose between purchasing food or medication by digging even deeper into already empty pockets to pay for highly inflated gasoline. Our nation MUST crawl out of the recession by getting these people back to work. This means that they must be able to afford to GET there. They must be able to afford food that hasn't been elevated immensely in price to compensate for higher gasoline prices.
Please consider imposing a new requirement limiting the size of oil buys and restricting speculation to investors who will actually take delivery of the oil, to help blunt the impact speculation has on gasoline prices. Thank you.
