Comment Text:
In today's world, oil & natural gas come right after air, water and food
in terms of civilized survival. Allowing a few greedy speculators to
satisfy their avarice at the expense of the rest of society on such an
essential commodity is unacceptable. Let them run up the price of pork
bellies, I can live with out bacon, but not oil and natural gas.
I encourage the CFTC to adopt speculative position limits that protect
American consumers and our economy from the volatility and high prices
that excessive speculation causes. Efficient, rational commodity markets
need effective position limits, transparency and a regulator that guards
against market distortions caused by excessive speculation, as well as
fraud and market manipulation.
Regards,
William Pechstedt
