STOP SPECULATORS! DROP THE PRICE OF OIL NOW!

STOP THE SPECULATORS! OUR ECONOMY DEPENDS ON YOUR IMMEDIATE ACTIONS! SUPPLY HAS INCREASED, DEMAND HAS DECREASED! MATH DOES NOT LIE! THIS ACTION DOES NOT REQUIRE A SPECIAL COMMITTEE OR GROUP TO DEBATE THINGS AT LENGTH AND DELAY PROCESSES. PLEASE STAND FIRM, AND BE A STRONG VOICE FOR THE NATION AND YOURSELF!

http://Stopoilspeculationnow.com

On this website you will find a form letter (the following below) to send to your congressional leaders and representatives. After signing up, you be redirected with your information, and have a choice to either print the letter, or send it via email. I chose BOTH, hoping that the senators and representatives seeing it from both angles will understand the urgency to ACT. I do not assume that my ONE voice will make a difference, but I do know that hundreds of voices make an impact to large to ignore. Therefore I have sent this message and information forward to others in my own area, asking them to do likewise. With all of us gathering together, we can speak as one voice, to make a difference. Our Nation depends on us.

Do not hope that "others" will do something for you. You will not learn how to swim, unless you first get your feet wet, and then jump in.
Lets all go swimming!


(Letter)
High prices for energy are hurting me and my family and I strongly urge Congress to act immediately to lower costs for all Americans. Rampant speculation in the commodities futures market is driving up prices out of proportion to marketplace demands.

The problem is speculators are increasingly buying and selling commodities such as oil even though they have no intention of using the product. The unregulated speculators are pocketing billions of dollars at our expense. The cost of food has gone up, the price at the pump has gone way up, and I'm already concerned about how much more it will cost to heat my home this winter.

To lower oil prices for all Americans we need to increase domestic supply, exploration, alternative energy sources and conservation. We also must protect bona fide speculation and hedging.
To address excessive speculation, Congress should promptly take the following actions:

1. Re-establish strict position limits on energy commodities - Position limits have existed since 1936 and work well at curtailing excessive speculation. Any trader that is not hedging with the intention of taking physical delivery of a commodity must be subject to strict position limits in all contract months.

2. Close the London Loophole - Foreign Boards of Trade with U.S. Terminals trading futures contracts that cash-settle against U.S. contracts should face the exact same regulations as U.S. exchanges. It is not fair for U.S. futures exchanges to face more regulation than their foreign counterparts trading in U.S. commodities.

3. Regulate "swaps trades" - All trades in the over-the-counter (OTC) swaps market must be subject to strict position limits. It is unfair to exempt swaps dealers from the same regulations that other market participants face. Experts have estimated the size of the OTC markets as nine or ten times larger than the futures markets.

4. Fully close the "Enron loophole" - "Exempt Commercial Markets" that trade U.S. contract which are nearly identical to fully regulated contracts should no longer be exempt from the same regulations that apply to Designated Commercial Markets such as the NYMEX.

5. Bring transparency to all energy trading - Positions of traders in all markets should be reported to the Commodity Futures Trading Commission (CFTC) and should be properly categorized based on where the trades occur and who is doing the trading. This will provide vital information that can be used to detect and prevent market manipulation.

By adopting these common-sense solutions, Congress can dramatically reduce the price of oil and gas, providing immediate relief for businesses, OUR NATION, and families like mine.