It is refreshing to read that Gary Gensler, new chairman of the Commodity Futures Trading Commission (CFTC), says the CFTC needs to regulate speculative trading in oil and natural gas futures more strictly.  As a reminder, the CFTC foolishly began granting exemptions from the speculative trades limits in 1991, and speculative trading in oil futures orchestrated by some of the large investment houses led to the dramatic increase in gas prices more than a year ago … and gas prices again are on their way up.

By the way, look for a new report from the CFTC this month that REVERSES a finding that the gas price hikes were caused by supply and demand issues, not speculators.

Chairman Gensler’s telephone number is 202.418.5050, and his fax number is 202.418.5533 if you want to weigh in on this important issue.