,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bedh  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #bf1 #bjad ,mr4  
,s&]s 7= himself1 ,mr4 ,blum5?al1 ,mr4  
,nelson1 ,mrs4 ,mc,caskill1 ,mr4 ,lev91 
,mr4 ,c>d91 ,mr4 ,frank51 ,mr4 ,br[n1   
,ms4 ,baldw91 ,mr4 ,:iteh\se1 ,mrs4     
,%ahe51 ,mr4 ,m>key1 ,mr4 ,m]kley1 ,ms4 
,klobu*>1 ,ms4 ,hirono1 ,mr4 ,man*91    
,mr4 ,rockefell]1 ,mr4 ,s*atz1 ,ms4     
,w>r51 & ,mrs4 ,box]7 introduc$ ! foll[+
 bill2 :i* 0 read twice & ref]r$ to !   
,committee on ,agriculture1 ,nutrition1 
& ,=e/ry  ,a ,,bill  ,to require !      
,commodity ,futures ,trad+ ,commission  
to take c]ta9 em]g5cy action to elim9ate
 excessive speculation 9 en]gy m>kets4  
#a4  ,en]gy m>kets  7a7  ,f9d+s         
,congress f9ds t--  7#a7 ! ,commodity   
,futures ,trad+ ,commission 0 creat$ z  
an indep5d5t ag5cy1 9 #aigd1 ) a m&ate--
  7,a7 to en=ce & adm9i/] ! ,commodity  
,ex*ange ,act 7#g ,u4,s4,c4 #a et seq472
  7,b7 to ensure commodities m>ket      
integrity2  7,c7 to protect commodities 

m>ket us]s f fraud & abusive trad+      
practices2 &  7,d7 to prev5t & prosecute
 manipulation ( ! price ( any commodity 
9 int]/ate comm]ce2  7#b7 ,congress has 
giv5 ! ,commodity ,futures ,trad+       
,commission au?ority "u ! ,commodity    
,ex*ange ,act 7#g ,u4,s4,c4 #a et seq47 
to take necess>y actions to address     
m>ket em]g5cies2  7#c7 ! ,commodity     
,futures ,trad+ ,commission may use !   
em]g5cy au?ority ( ! ,commission )      
respect to any major m>ket di/urbance t 
prev5ts ! m>ket f accurately reflect+ ! 
=ces ( supply & dem& = a commodity2     
7#d7 ,congress decl>$ 9 section #d;a ( !
 ,commodity ,ex*ange ,act 7#g ,u4,s4,c4 
#f;a7 t excessive speculation imposes an
 undue & unnecess>y burd5 on int]/ate   
comm]ce2  7#e7 accord+ to an article    
publi%$ 9 ,=bes magaz9e on ,febru>y #bg1
 #bjab1 excessive oil speculation       
translates out into a premium = gasol9e 
at ! pump ( 4#ef a gallon bas$ on a     
rec5t report f ,goldman ,sa*s2  7#f7 on 
,june #ac1 #bjad--  7,a7 ! supply (     

motor gasol9e 0 high] ?an ! supply 0 on 
,june #ab1 #bjji1 :5 ! national av]age  
price = a gallon ( regul> unlead$       
gasol9e 0 j #b4fd2 &  7,b7 dem& =       
gasol9e 9 ! ,unit$ ,/ates 0 l[] ?an dem&
 0 on ,june #ab1 #bjji2  7#g7 on ,june  
#bc1 #bjad1 ! national av]age price (   
regul> unlead$ gasol9e 0 ov] #c4fh a    
gallon1 ! highe/ price = ?is "t ( ye>   
s9ce #bjjh1 ! ye> gasol9e prices hit an 
all-"t high2  7#h7 excessive oil &      
gasol9e speculation is creat+ major     
m>ket di/urbances t prev5t ! m>ket f    
accurately reflect+ ! =ces ( supply &   
dem&2 &  7#i7 ! ,commodity ,futures     
,trad+ ,commission has a                
responsibility--  7,a7 to ensure t !    
price discov]y = oil & gasol9e          
accurately reflects ! fundam5tals (     
supply & dem&2 &  7,b7 to take imm$iate 
action to implem5t /rong & mean+ful     
position limits to regulat$ ex*ange     
m>kets to elim9ate excessive oil        
speculation4  7b7  ,actions  ,n lat] ?an
 #ad days aft] ! date ( enactm5t ( ?is  

,act1 ! ,commodity ,futures ,trad+      
,commission %all use ! au?ority ( !     
,commission 7includ+ em]g5cy p[]s7--    
7#a7 to curb imm$iately ! role (        
excessive speculation 9 any contract    
m>ket )9 ! jurisdiction & control ( !   
,commission1 on or ?r\gh :i* en]gy      
futures or swaps are trad$2 &  7#b7 to  
elim9ate excessive speculation1 price   
di/ortion1 sudd5 or unreasonable        
fluctuations1 or unw>rant$ *anges 9     
prices1 or o!r unlawful activity t is   
caus+ major m>ket di/urbances t prev5t !
 m>ket f accurately reflect+ ! =ces (   
supply & dem& = en]gy commodities4