cuda
07-30-2009, 11:01 PM
Joe - Stop Oil Speculation NOW - Join the Cause!
Dear Joe:
You are receiving this message because, at some point in the past, you have sent letters to Congress calling for an end to speculation-driven energy prices that have resulted from loopholes in federal law and regulation (such as the "Enron Loophole"). These loopholes have freed certain Wall Street energy trading from oversight, accountability and the rule of law.
We would like to thank you for getting involved in this campaign in the past; however the effort continues... and perhaps is even more important than ever.
Many market experts and academics agree... excessive speculation and "dark market" energy trading was a leading factor in the commodities bubble of 2008, that it played a role in the economic collapse we witnessed last year, and that it continues to distort supply and demand fundamentals in the energy markets. Furthermore, some warn that another speculative bubble similar to last year's could cripple the U.S. economy and vital industries, and prevent a much-needed economic recovery.
Unfortunately, most loopholes that allow speculators to dominate the market are still on the books. Thankfully, we now have a champion for reform in Gary Gensler, the new Chairman of the Commodity Futures Trading Commission (the federal agency responsible for regulating energy trading). Chairman Gensler and his fellow Commissioners held hearings this week on whether or not to propose new rules to prohibit speculators from cornering the market and manipulating prices.
But in order regulate all trading activity, Congress must pass meaningful reform of commodities trading and give the Commission the tools he needs to get the job done. The organizers of the original "Close the Enron Loophole" campaign and members of the Commodity Markets Oversight Coalition (an alliance of business, industry and consumer groups calling for commodity trading reform) need your help!
Dear Joe:
You are receiving this message because, at some point in the past, you have sent letters to Congress calling for an end to speculation-driven energy prices that have resulted from loopholes in federal law and regulation (such as the "Enron Loophole"). These loopholes have freed certain Wall Street energy trading from oversight, accountability and the rule of law.
We would like to thank you for getting involved in this campaign in the past; however the effort continues... and perhaps is even more important than ever.
Many market experts and academics agree... excessive speculation and "dark market" energy trading was a leading factor in the commodities bubble of 2008, that it played a role in the economic collapse we witnessed last year, and that it continues to distort supply and demand fundamentals in the energy markets. Furthermore, some warn that another speculative bubble similar to last year's could cripple the U.S. economy and vital industries, and prevent a much-needed economic recovery.
Unfortunately, most loopholes that allow speculators to dominate the market are still on the books. Thankfully, we now have a champion for reform in Gary Gensler, the new Chairman of the Commodity Futures Trading Commission (the federal agency responsible for regulating energy trading). Chairman Gensler and his fellow Commissioners held hearings this week on whether or not to propose new rules to prohibit speculators from cornering the market and manipulating prices.
But in order regulate all trading activity, Congress must pass meaningful reform of commodities trading and give the Commission the tools he needs to get the job done. The organizers of the original "Close the Enron Loophole" campaign and members of the Commodity Markets Oversight Coalition (an alliance of business, industry and consumer groups calling for commodity trading reform) need your help!