Earlier this week, US legislators unanimously agreed to finally give more power to regulators in monitoring energy markets, as loopholes are being reported to them some years ago.
The Senate by unanimous voice vote agreed to include in the farm legislation a provision that gives the Commodity Futures Trading Commission increased authority to detect and prevent manipulation in electronic energy markets, create audit trails and require greater transparency in transactions.
"This closes the Enron Loophole once and for all," said Sen. Dianne Feinstein, D-Calif., one of the measure's co-sponsors.
The provision was offered by Feinstein, Sen. Carl Levin, D-Mich., and Sen. Olympia Snowe, R-Maine.
"It's past time to put the cop back on the beat in U.S. energy markets to stop price manipulation and excessive speculation," said Levin. He said the new authority "will stop speculators from using unregulated energy markets to game the system and distort energy prices in ways that hurt consumers."
more...
0 comments:
Post a Comment