ATA praises new energy market oversight
Jun 5, 2008 11:37 AM
The American Trucking Associations (ATA) is praising action by the Commodity Futures Trading Commission designed to improve oversight of the energy futures market by expanding the amount and quality of information received from energy traders.
Bill Graves, ATA president, said the decision will increase the transparency of the energy futures market and help to ensure that petroleum prices are driven by supply and demand.
According to information posted on the commission's Web site, "The recent dramatic increases in the price of crude oil traded on futures exchanges make these efforts paramount."
The steps include expanding international surveillance information for crude oil trading, increasing the transparency of trading in US energy markets, and continuing the commission's ongoing nationwide crude oil investigation.
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