Comment Text:
I totally support the proposal for a new set of rules that would limit speculation on 28 core markets, including crude oil, fuel oil, gasoline, and natural gas. Economists like myself who have received their doctorates from the top economics programs in the country know the benefits of competition can be undermined by speculators who do not have an intrinsic interest in either the demand or the supply side of a market. In such circumstances the normal market forces cannot play out as they should. This can result in prices that vary too widely and irrationally, fluctuating too high as well as too low which adds to the expense of planning by increasing price variation. Planning is subverted by such speculation. Please apply new rules that will encourage markets to operate as they should to balance supply and demand by the rationally interested members of a market.
