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Klobuchar Meets With Futures Trading Commission Chair

Amy Klobuchar
Amy Klobuchar

Washington, D.C. – U.S. Senator Amy Klobuchar has called on federal regulators to rein in excessive Wall Street oil speculation that is hurting consumers at the pump and increasing costs for farmers and businesses. During a meeting with U.S. Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler, Klobuchar called on the regulatory body to immediately implement long-stalled rules on speculative position limits in America’s oil and gasoline markets. Klobuchar also cosponsored legislation this week to establish clear position limits on Wall Street oil speculators and cap energy speculation as a percentage of the overall market.  A recent report shows that oil speculation raises gas prices an average 56 cents per gallon.