Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007 #535819-00047

Submission Number:
535819-00047
Commenter:
David Hill
Organization:
None
State:
LA
Initiative Name:
Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007

My proposal to the commision to protect the American public from unfair pricing is to change the way Oil and/or gas is traded on the open market. Drive it towards actual cost to produce and not the fear and speculation driven pricing we presently are affected by. Fear of actions in other countries should not drive the cost of oil produced in the U.S. to higher prices based on a possible interruption elsewhere. Shipping oil produced here to another country for the better price is only serving the Oil Companies benefit. The American public suffers at the hands of the greed to make money by Corporate America. I can't see how the cost near an Oil refinery should be the cost of gasoline imported from Algeria or other countries in the world. Cost to transport to another country oil produced here and ship it back to the U.S. as refined gasoline is a round about way of jacking up the price to make more money. I believe in profit, but the present profit margin of several hundred percent is unacceptable. I am not the genius here, but I know when the fair practice of making money is being abused by the Companies to make more money. We pay too much for what is produced in the state and refined in the state. There should be some legal boundaries set to restrict the excessive profit margins being squeezed out of the people here in the U.S. I read in the news that we can afford to pay more for the energy we buy. That is not a good excuse to hold hostage a people. The technology is there to allow us to use other fuels and still survive. Not our food sources. To undercut our own source of food is only replacing one bad scenario with another future bad scenario. Thanks for your time.