Comment Text:
I am not a sophisticated financial expert. I have no personal interest in the nature of commodities futures other than as it affects my personal finances. However, I am very aware that the recent spike in the price of oil is being fed by the trading in oil futures. This trading is damaging to the economy of the US and to the rest of the world. Moreover, it creates an atmosphere of uncertainty that affects not only the economy, but the general atmosphere of the nation. So I wonder why the CFTC has not used its authority to limit the effects of oil futures speculation on the economy. Commodity futures are a good way to create stability, but when speculation is out of bounds, it inhibits that stability.
I am asking you, as a citizen of the US, to use the authority you have and to follow the congressional mandate you have to rectify the current situation.
Sincerely,
--
Misha Dennis
