Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007 #535819-00091

Submission Number:
535819-00091
Commenter:
Jeff Van Hecke
State:
IN
Initiative Name:
Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007

I am truly greatful that the FTC has decided to investigate the current situation with regards to the Gas prices. One thing I have always found very questionable is how a Gas merchant can raise the price of fuel immediatly when the price of crude rises even when they have purchased the fuel at a lesser cost, but it takes upwards of 2 weeks for them to lower it when the prices of crude drop. I also feel there needs to be regulations put in place to have some sort of control on the way the stock traders are able to continually drive up the costs through speculation. The oil companies would have us believe that their prices are derived from a supply and demand issue when in fact they are cutting production to keep prices high.