- All members of Congress
- United States of America
Wall Street speculators drive up the price of gasoline, diesel and jet fuel by buying and selling oil with no intention of ever using it. Prevent the manipulation of energy markets and return prices to reasonable levels.
Request the Federal Government to adopt laws on commodity speculation by requiring any commodity purchased, to be consumed by the purchaser or require that every commodity for sale on the exchange be backed by an actual asset that can and will be delivered to the purchaser.
Establish tough regulatory oversight of commodity markets;
Increasing transparency by requiring exchange trading and clearing of most energy contracts;
Providing government agencies with the authority to regulate over-the-counter derivatives. This oversight will prevent big banks from manipulating and cornering commodity markets;
Closing known loopholes including the “Enron Loophole” and the “London Loophole”.