H.R.6334 - Increasing Transparency and Accountability in Oil Prices Act of 2008

To provide energy price relief by authorizing greater resources and authority for the Commodity Futures Trading Commission, and for other purposes. view all titles (3)

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  • Popular: Increasing Transparency and Accountability in Oil Prices Act of 2008 as introduced.
  • Official: To provide energy price relief by authorizing greater resources and authority for the Commodity Futures Trading Commission, and for other purposes. as introduced.
  • Short: Increasing Transparency and Accountability in Oil Prices Act of 2008 as introduced.

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Introduced
 
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06/19/08
 
 
 
 
 
 
 

Official Bill Text Comment on about 5 Pages

Official Summary

6/20/2008--Introduced.Increasing Transparency and Accountability in Oil Prices Act of 2008 - Expresses the sense of the House of Representatives that the President should immediately send to Congress a request for emergency appropriations for FY2008 for the Commodity Futures Trading Commis
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Official Summary

6/20/2008--Introduced.
Increasing Transparency and Accountability in Oil Prices Act of 2008 - Expresses the sense of the House of Representatives that the President should immediately send to Congress a request for emergency appropriations for FY2008 for the Commodity Futures Trading Commission (CFTC) in an amount that is sufficient to:
(1) help restore public confidence in energy commodities markets and federal oversight of those markets;
(2) potentially impose limits on excessive speculation that may be increasing the price of oil, gasoline, diesel, and other energy commodities;
(3) significantly improve the information technology capabilities of the CFTC to help it effectively regulate the energy futures markets; and
(4) fund at least 100 new full-time positions at the CFTC to oversee energy commodity market speculation and to enforce the Commodity Exchange Act. Amends the Commodity Exchange Act to provide for additional employees for improved enforcement. Amends the Commodity Exchange Act to address the kind of case in which the CFTC grants or considers granting relief to a foreign board of trade from the requirement that it become a designated contract market, derivatives transaction execution facility, or other registered entity with respect to an energy commodity physically delivered in the United States. Requires the CFTC, before granting or considering such relief, to determine that the foreign board of trade:
(1) applies comparable principles or requirements regarding the daily publication of trading information and position limits or accountability levels for speculators as apply to a designated contract market, derivatives transaction execution facility, or other registered entity trading energy commodities physically delivered in the United States; and
(2) provides such information to the Commission regarding the extent of speculative and nonspeculative trading in the energy commodity that is comparable to the information the Commission determines necessary to publish a Commitment of Traders report for such a designated contract market, derivatives transaction execution facility, or other registered entity. Requires the Commission to disaggregate and make public monthly:
(1) the number of positions and total value of index funds and other passive, long-only positions in energy markets; and
(2) data on speculative positions relative to bona fide physical hedgers in those markets.


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Recent News Coverage

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06/22/08
House ag committee eyes tighter regs for energy markets

The House Agriculture Committee will vote Tuesday on a bill, HR 6334, to tighten regulations in energy markets. US Rep. Bob Etheridge (DN. ...

Source: Feedstuffs, MN
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Recent Blog Coverage

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09/27/10
H.R.6334: American Community Investment Reform Act of 2010 - U.S. ...

Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as possible. Thanks for helping to build pub

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07/16/08
Home in Henderson » Etheridge votes for domestic drilling

Etheridge has also introduced his own legislation, H.R. 6334, The Increasing Transparency and Accountability in Oil Prices Act of 2008, that would give the CFTC additional authority and resources to prevent manipulation and excessive ...

Source: Home in Henderson
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07/07/08
House Ag. Committee to examine energy bills

... to prevent manipulation and excessive speculation in energy markets. Among the proposals examined will be US Rep. Bob Etheridge’s (D-Lillington) bill, HR 6334, The Increasing Transparency and Accountability in Oil Prices Act of [...]

Source: Home in Henderson
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