The CFTC Cracks Down on Speculators
Commodity Futures Trading Commission
By Institute for Energy Research —— Bio and Archives--June 7, 2011
Global Warming-Energy-Environment | Comments | Back To Full Article
On May 24 the Commodity Futures Trading Commission (CFTC) filed lawsuits against oil traders, alleging that they manipulated the oil markets in early 2008 while harming consumers and personally pocketing $50 million. The case is unusual because the CFTC usually goes for the easier route of charging attempted manipulation of markets; actual manipulation has only been successfully proven on one previous occasion.
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