Congress members urge CFTC to set energy position limits

08/03/2009
Two members of Congress urged the US Commodity Futures Trading Commission to establish and enforce position limits for all energy commodities as opening witnesses at the first of three CFTC hearings on the matter.US Sen. Bernard Sanders (I-Vt.), who questioned CFTC Chairman Gary G. Gensler’s commitment to regulate aggressively as the Senate considered Gensler’s nomination, began by conceding that Gensler’s actions since taking the CFTC’s helm have been impressive. “But they will all be for naught unless they are followed by aggressive actions by the CFTC to prevent excessive speculation in oil and gas trading,” Sanders warned.US Rep. Bart Stupak (D-Mich...
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