Del.icio.us
Digg
StumbleUpon
Facebook
Reddit
Newsvine
co.mments
Energy Markets Emergency Act of 2008
To direct the Commodity Futures Trading Commission to utilize all its authority, including its emergency powers, to curb immediately the role of excessive speculation in any contract market within the jurisdiction and control of the Commodity Futures Trading Commission, on or through which energy futures or swaps are traded, and to eliminate excessive speculation, price distortion, sudden or unreasonable fluctuations or unwarranted changes in prices, or other unlawful activity that is causing major market disturbances that prevent the market from accurately reflecting the forces of supply and demand for energy commodities.
Other Bill Titles (5 more)6/26/2008--Passed House without amendment. (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Energy Markets Emergency Act of 2008 - Directs the Commodity Futures Trading Commission (CFTC) to utilize all its authority, including its e... moreSee Full Bill Text
Committees
Amendments
This bill has no amendments.
Bill Status
| Introduced |  | Voted on by House |  | Voted on by Senate | | Considered By President | | Bill Becomes Law |
| June 26, 2008 | June 26, 2008 |
Latest Vote
| June 26, 2008Roll call number 468 in the House | |||
| Question: On Motion to Suspend the Rules and Pass: H R 6377 Energy Markets Emergency Act of 2008 | |||
| Required percentage of 'Aye' votes: 2/3 (66%) | Percentage of 'aye' votes: 92% | Result: Passed | |
Users tracking H.R.6377 (11) are also tracking:
| People | Bills | Issues |
|---|---|---|
In the News
July 02, 2008 High Gas Prices Shift Public Views on Domestic Oil Drilling
The House on June 26 passed by 402-19 a bill ( HR 6377 ) that would direct the Commodity Futures Trading Commission to use its existing authority to curb ...
June 27, 2008 Today's Top Ag News -- H&P Report Today
House passed, 402-19, legislation (HR 6377) that would authorize federal regulators to take "emergency steps" to tighten oversight of oil futures trading. ...
June 27, 2008 House Orders CFTC To Use Emergency Curb On Energy Speculation
... limits on trading in its oil contract that are comparable to the limits on Nymex Holdings Inc.'s (NMX) New York Mercantile Exchange. The bill is HR 6377.
1 more articles...
See most useful news articles
Information made available by:
Blog Coverage
September 11, 2008 9/11/08â¦an inadequate bounce
On June 26, 2008 the House passed the Energy Markets Emergency Act of 2008, HR 6377. The bill would take crucial steps to curb excessive speculation in the energy futures markets by directing the CFTC to [4]:. Use all its authority, ...
August 13, 2008 iKong III
Trying to close an oil speculator loophole, the passing of HR 6377 by the House of Representatives happened in June. I seriously hope the Senate passes this bill, that we continue moving towards freeing ourselves from foreign energy and ...
Source: A Pile Of Dog Bones
August 13, 2008 iKong III
Trying to close an oil speculator loophole, the passing of HR 6377 by the House of Representatives happened in June. I seriously hope the Senate passes this bill, that we continue moving towards freeing ourselves from foreign energy and ...
Source: A Pile Of Dog Bones
23 more posts...
See most useful blog posts
Information made available by:
Rating Filter: 5
Comments
$300 a barrel. OPEC is going off the US dollar and Iran is refining and exporting. The rich ME countries are selling off the bonds and mortgages and Chinese are buying, but they don't have oil. The mortgages just won't fail enough and we really can't get even with China.
Air cars are in France. Water cars are in Japan. The air car is pretty cheap.
Lots of good discussion about the role of so-called "speculators" in the oil markets, linked to from Interfluidity, here: http://interfluidity.com/posts/1217152169.shtml
Dear Congressman Herger:
I am honored and flattered at your correspondence. However, I have grave misgivings about your support for H.R. 6377 for 3 reasons.
1. If I understood it correctly, it means that the government is going to impose regulation to take away citizens rights to take risks in their own marketplace.
2. If it is true that speculators are driving, at least in part, the rising cost of oil, then the worst thing we could do is hinder the bubble's rise to the pop where greedy speculators get their just come-upence and we all enjoy cheep gas again! -- Join the chorus instead, Mr. Congressman -- DRILL, DRILL, DRILL! And while you're at it would you ask for executive orders to fast-track a couple hundred nuclear power plants so we can stop burning coal and direct our natural gas to the transportation sector?
3. I'm not entirely convinced that "the concern raised by many consumers and analysts that speculation in the energy commodities market is driving up oil prices". Consumers and analysts aren't raising concern about speculators, but politicians are.
I humbly request that you consider these points.
Add A Comment