A bill to amend the Commodity Exchange Act to require a regulation to limit the aggregate positions of nontraditional bona fide hedgers in petroleum and related products.
About This Bill
Committee
Latest Action · March 27, 2012
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Amends the Commodity Exchange Act with respect to excessive speculation in a commodity under contracts of sale to direct the Commodity Futures Trading Commission (CFTC) to establish limits on the aggregate number or amount of positions in contracts for petroleum or related products that may be held by any person, or any group or class of traders, for each month across specified contracts so that: (1) the short position for traditional bona fide hedgers in the aggregate is not less than 50% percent; and (2) the long position for such hedgers in the aggregate is not less than 50% percent.
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