Comment Text:
Good morning. I have been reading that speculation in the unregulated OTC market for oil futures,
Combined with the ICE operating in the USA (also unregulated), contributes up to 40% of the price of
Gasoline. Participants like Koch trade in both regulated and unregulated markets.
Why do we have unregulated OTC markets for oil futures given the rampant speculation, volatiity
And price impact on the consumer? I read about the global nature of oil pricing but with reduced
Demand and supplies at a good level, we allow speculators to drive up prices with fear of war. We are
Told that the refining capacity is down...etc, etc....
Nonetheless, why isnt CFTC regulating oil futures on OTA and ICE as they do on the NYM?
I read Chairman Genslers statement from 2010 but no mention of oil futures specifically. Thanks,
--
Barnaby Page, J.D.
Adrem LLC
Principal Consultant
703.286.5820 off
202.299.4999 mob
