Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007 #535819-00001

Submission Number:
535819-00001
Commenter:
Kerry O'Shea
State:
CA
Initiative Name:
Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007

To prevent manipulation of crude oil markets by hedge funds and trading houses, the FTC should require that any entity trading barrals of crude oil, whether prompt or futures, take physical possession of those barrels. Hedge funds and trading houses do not own or have access to storage facilities, unless they actually invest in them, therefore, they would not be able to influence crude oil prices by buying, selling, or offering analysis that they can then take advantage of.