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<blockquote data-quote="cheryl" data-source="post: 367143" data-attributes="member: 1"><p>Do you think that market speculators have an influence on oil prices?</p><p> </p><p><a href="http://www.stopoilspeculationnow.com/" target="_blank">http://www.stopoilspeculationnow.com</a> makes it really easy to send either an email or a printed letter to your local congressman. You enter your address and they look up who represents you and their email address. Then the site generates a personalized letter for that representative you choose. They even send the email for you or you can print out a letter for mailing. </p><p> </p><p>The following is the default letter that the site generates. You have an opportunity to edit the letter before it's sent so if you think that this is hooey and that market speculation has no effect on oil prices you can change the letter to express that point of view too.</p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">The Honorable ________</span></span></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">House of Representatives</span></span></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">1728 Longworth House Office Building</span></span></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">Washington, DC 20515-0548 </span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">Re: Act now to lower energy costs</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">Dear Representative ________:</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">High prices for energy are hurting me and my family and I strongly urge Congress to act immediately to lower costs for all Americans. </span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">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. </span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">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. </span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">To address excessive speculation, Congress should promptly take the following actions:</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">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 related commodity must be subject to strict position limits in all contract months.</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">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.</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">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.</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">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.</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">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.</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">Thank you for listening to my concerns. By adopting these common-sense solutions, Congress can dramatically reduce the price of oil and gas, providing immediate relief for businesses and families like mine.</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">Sincerely,</span></span></p><p> </p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 12px">__________</span></span></p></blockquote><p></p>
[QUOTE="cheryl, post: 367143, member: 1"] Do you think that market speculators have an influence on oil prices? [URL="http://www.stopoilspeculationnow.com/"]http://www.stopoilspeculationnow.com[/URL] makes it really easy to send either an email or a printed letter to your local congressman. You enter your address and they look up who represents you and their email address. Then the site generates a personalized letter for that representative you choose. They even send the email for you or you can print out a letter for mailing. The following is the default letter that the site generates. You have an opportunity to edit the letter before it's sent so if you think that this is hooey and that market speculation has no effect on oil prices you can change the letter to express that point of view too. [FONT=Times New Roman][SIZE=3]The Honorable ________[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]House of Representatives[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]1728 Longworth House Office Building[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]Washington, DC 20515-0548 [/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]Re: Act now to lower energy costs[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]Dear Representative ________:[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]High prices for energy are hurting me and my family and I strongly urge Congress to act immediately to lower costs for all Americans. [/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]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. [/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]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. [/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]To address excessive speculation, Congress should promptly take the following actions:[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]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 related commodity must be subject to strict position limits in all contract months.[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]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.[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]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.[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]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.[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]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.[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]Thank you for listening to my concerns. By adopting these common-sense solutions, Congress can dramatically reduce the price of oil and gas, providing immediate relief for businesses and families like mine.[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]Sincerely,[/SIZE][/FONT] [FONT=Times New Roman][SIZE=3]__________[/SIZE][/FONT] [/QUOTE]
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