Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007 #535819-00072

Submission Number:
535819-00072
Commenter:
Mike Mazur
State:
GA
Initiative Name:
Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007

The FTC must be given more power to control the speculation that affects our gas prices. And it is necessary to ensure that the FTC actually uses that power. The energy prices should reflect supply and demand and it is up to the FTC to make certain that it does. Let's mandate these oversights and controls to help the American people. Not continue this "raping" by a select few. In January 2006, the Bush Administration’s CFTC permitted the Intercontinental Exchange (ICE), the leading operator of electronic energy exchanges, to use its trading terminals in the United States for the trading of US crude oil futures on the ICE futures exchange in London (ICE Futures). Because of this, there is no regulation of price manipulation by speculators. The FTC must be allowed to get control of this and it must be mandated to do so whether through increased regulatory clauses and/or repeal certain clauses of the Commodity Futures Modernization Act of 2000.