OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Cantwell: CFTC Taking a Step in the Right Direction, But More Needs To Be Done

Statement

Date: May 29, 2008
Location: Washington, DC
Issues: Oil and Gas Finance and Banking Energy


Cantwell: CFTC Taking a Step in the Right Direction, But More Needs To Be Done

Today, U.S. Senator Maria Cantwell (D-WA) welcomed news from the Commodity Futures Trading Commission (CFTC) that they will be increasing transparency over oil and gas markets.

"While I am pleased the CFTC announcement today to increase transparency of energy futures markets recognizes the concerns that I and nearly a quarter of my colleagues raised in a letter to the Commission last week, more needs to be done, said Cantwell. "The price at the pump keeps going up and up, and we must establish a clear, bright line to help protect consumers and burst the oil price bubble. This is no time for CFTC to be timid. The cost to consumers is too great and the CFTC needs to make up for lost time. I still look forward to the CFTC's detailed response to our letter next week."


Source
arrow_upward