Senators Question Weak Oil Speculation Rule

October 18, 2011

Think Progress – The Commodity Futures Trading Commission (CFTC) is poised to vote on position limits for oil trading, but some senators are concerned that the rule will be too weak to diminish oil speculation. Sens. Bernie Sanders (I-VT) and Maria Cantwell (D-WA) both wrote letters to CFTC Commissioner Gary Gensler, asking him to take stronger steps to curb financial speculators like Goldman Sachs and Morgan Stanley…

Sen. Maria Cantwell’s (D-WA) letter to the CFTC goes into more detail about the ineffectiveness of the proposed rule. “I urge the Commission to drop the ‘conditional spot month position limit’ policy from the final ‘Position Limits for Derivatives’ rule and treat the physically-settled and economically equivalent cast-settled ‘look alike’ contracts equally,” she wrote.

Read the whole article >>

Archives

Working for WA

Protecting Washington’s Natural Resources

Comp

As one of the most beautiful states in the union–and one of the richest in natural resources–Washington has a special interest in energy and environmental policy. And Maria has fought hard to uphold the state’s conservation tradition, while also working to bring our energy policy into the 21st century.

Fighting For Washington Businesses, Workers and Jobs

Comp

Maria knows Washington’s business community – because, as an executive at an innovative software company, she was part of it. And as a Senator, she’s led the way in helping businesses large and small throughout Washington grow, thrive, and create jobs.

Keeping Washington Families Safe

Comp

Maria has taken a leadership role on safety and security issues, including defending our borders, strengthening our military, cracking down on gangs, and taking on drug crime in Washington communities

Standing with Middle-Class Taxpayers

Stock Comp

Middle-class families around Washington and across the country are facing tough times–and tough decisions about balancing the family checkbook each month. Maria has fought to strengthen the economic security of Washington families and cut taxes for middle-class families.

Latest Tweets

  • Loading Tweets...

Friends of Maria