Top Legislation - View All
Also tagged in: Administrative procedure, Business, Business records, Coal, Commodity Futures Trading Commission, Diesel motor, Electric power production, Energy, Executive departments, Finance, Futures trading, Gasoline, Government information, Government paperwork, Heating, Independent regulatory commissions, Law, Natural gas, Petroleum, Propane
Latest Action: 02/13/2007 - Sponsor introductory remarks on measure. (CR S1920-1921) Bill TextA bill to amend the Commodity Exchange Act to add a provision relating to reporting and recordkeeping for positions involving energy commodities. 2/13/2007--Introduced. Oil and Gas Traders Oversight Act of 2007 - Amends the Commodity Exchange Act to prescribe reporting and recordkeeping requirements for positions involving energy commodities (a commodity or the derivatives of a commodity used primarily as a source of energy). Directs the Commodity Futures Trading Commission to subject to the requirements of this Act a contract, agreement, or transaction for future delivery in an energy commodity.
Also tagged in: Administrative procedure, Commodity Futures Trading Commission, Electric power, Energy, Energy prices, Executive departments, Finance, Fraud, Futures trading, Gasoline, Government information, Government paperwork, Heating, Independent regulatory commissions, Law, Methane, Natural gas, Petroleum, Propane
Latest Action: 09/17/2007 - Sponsor introductory remarks on measure. (CR S11596-11597, S11600-11603) Bill TextA bill to amend the Commodity Exchange Act to close the Enron loophole, prevent price manipulation and excessive speculation in the trading of energy commodities, and for other purposes. 9/17/2007--Introduced. Close the Enron Loophole Act - Amends the Commodity Exchange Act to provide that it applies to an agreement, contract, or transaction in an exempt commodity that is executed or traded on an electronic trading facility that is an energy trading center.Prohibits any person from entering into an agreement, contract, or transaction for future delivery of an energy commodity that is not a spot sale of cash commodity or a sale of a cash commodity for deferred shipment or delivery on or through an energy trading facility that is not registered as such with the U.S. Commodity Futures Trading Commission (CFTC). Sets forth registration criteria.Requires CFTC to ensure that the position limits and accountability levels applicable to contracts in an energy commodity [...] show full description
Also tagged in: Actions and defenses, Administrative procedure, Agriculture, Business, Business records, Coal, Commodity Futures Trading Commission, Commodity prices, Criminal justice, Derivative securities, Diesel motor, Electricity, Embezzlement, Energy, Energy prices, Executive departments, Finance, Fines (Penalties), Futures trading, Gasoline, Government information, Government paperwork, Independent regulatory commissions, Information disclosure (Securities law), Larceny, Law, Market manipulation, Natural gas, Petroleum, Propane, Restrictive trade practices, Securities fraud, Securities industry, Securities regulation
Latest Action: 02/02/2007 - Referred to the Subcommittee on General Farm Commodities and Risk Management. Bill TextTo regulate over-the-counter trading of energy derivatives. 1/19/2007--Introduced. Prevent Unfair Manipulation of Prices Act of 2007 - Amends the Commodity Exchange Act to extend its jurisdiction to certain: (1) "included energy transactions" traded on an electronic trading facility; and (2) certain energy commodities involved in over-the-counter transactions. Sets forth reporting and recordkeeping requirements for: (1) certain contract participants that enter into or execute "included energy transactions;" and (2) electronic trading facilities for energy commodities. Extends prohibitions against fraudulent transactions to: (1) filling an order by offset against the other person's order; and (2) knowingly and willfully becoming the buyer in respect to another person's selling order, or the seller in respect to another person's buying order, without the other person's prior consent. Empowers the Commodities Futures Trading Commission [...] show full description
Also tagged in: Administrative procedure, Business, Commodity Futures Trading Commission, Criminal justice, Derivative securities, Energy, Executive departments, Finance, Fines (Penalties), Futures trading, Gas industry, Government information, Government paperwork, Government publicity, Independent regulatory commissions, Information disclosure (Securities law), Law, Natural gas, Swaps (Finance), Trade
Latest Action: 04/25/2008 - Referred to the Subcommittee on General Farm Commodities and Risk Management. Bill TextTo enhance transparency of trading in over-the-counter derivatives in natural gas. 7/12/2007--Introduced. Market Transparency Reporting of United States Transactions Act of 2007 - Amends the Commodity Exchange Act to define "included natural gas transaction" as a contract, agreement, or transaction in natural gas that is entered into: (1) in reliance on the provisions regarding either excluded swap transactions or the legal certainty for certain transaction in exempt commodities; or (2) by use of a domestic technology or software providing direct access to a foreign board of trade. (Thus places natural gas transactions within the jurisdiction of the Commodity Futures Trading Commission (CFTC).) Prescribes recordkeeping and disclosure requirements governing natural gas in swap transactions, positions, inventories and commitments otherwise excluded from CFTC jurisdiction ("over-the-counter transactions"). Requires the CFTC to: (1) establish [...] show full description
Also tagged in: Administrative procedure, Commodity Futures Trading Commission, Electric power, Energy, Energy prices, Executive departments, Finance, Fraud, Futures trading, Gasoline, Government information, Government paperwork, Heating, Independent regulatory commissions, Information disclosure (Securities law), Law, Methane, Natural gas, Petroleum, Propane
Latest Action: 11/01/2007 - Referred to the House Committee on Agriculture. Bill TextTo amend the Commodity Exchange Act to close the Enron loophole, prevent price manipulation and excessive speculation in the trading of energy commodities, and for other purposes. 11/1/2007--Introduced. Close the Enron Loophole Act - Amends the Commodity Exchange Act to provide that it applies to an agreement, contract, or transaction in an exempt commodity that is executed or traded on an electronic trading facility that is an energy trading center.Prohibits any person from entering into an agreement, contract, or transaction for future delivery of an energy commodity that is not a spot sale of cash commodity or a sale of a cash commodity for deferred shipment or delivery on or through an energy trading facility that is not registered as such with the U.S. Commodity Futures Trading Commission (CFTC). Sets forth registration criteria.Requires CFTC to ensure that the position limits and accountability levels applicable to contracts in an energy commodity listed [...] show full description
Latest Action: 05/08/2008 - Referred to the Committee on Agriculture, Nutrition, and Forestry. Bill TextA bill to amend the Commodity Exchange Act to enhance oil trading transparency. 5/8/2008--Introduced. Oil Trading Transparency Act - Amends the Commodity Exchange Act to address the kind of case in which the Commodity Futures Trading Commission (CFTC) grants or considers granting relief to a foreign board of trade from the requirement that it become a designated contract market, derivatives transaction execution facility, or other registered entity with respect to an energy commodity physically delivered in the United States. Requires the CFTC, before granting or considering such relief, to determine that the foreign board of trade: (1) applies comparable principles or requirements regarding daily publication of trading information and position limits or accountability levels for speculators as apply to a designated contract market, derivatives transaction execution facility, or other registered entity trading energy commodities physically delivered in the United States;[...] show full description
Also tagged in: Building materials, Energy, Finance, Fuel, Futures trading, Gasoline, Heating, Metals, Natural gas, Petroleum, Propane
Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5631-5632) Bill TextA bill to amend the Commodity Exchange Act to require energy commodities to be traded only on regulated markets, and for other purposes. 6/12/2008--Introduced. Amends the Commodity Exchange Act to require energy commodities to be traded only on regulated markets.
Also tagged in: Administrative procedure, Business, Commodity Futures Trading Commission, Energy, Executive departments, Finance, Foreign policy, Futures trading, Governmental investigations, Independent regulatory commissions, Information disclosure (Securities law), International affairs, International cooperation, Law, Margins (Security trading), Petroleum
Latest Action: 06/24/2008 - Sponsor introductory remarks on measure. (CR S6021-6022) Bill TextA bill to amend the Commodity Exchange Act to provide oil and gas price relief by requiring the Commodity Futures Trading Commission to take action to end excessive speculation, and for other purposes. 6/24/2008--Introduced. End Oil Speculation Act of 2008 - Amends the Commodity Exchange Act to direct the Commodity Futures Trading Commission (CFTC) to eliminate manipulation and excessive speculation on petroleum futures markets by investigation, regulation, and rulemaking, while distinguishing between: (1) transactions by commercial producers and purchasers (as well as counterparties) involving actual physical petroleum products for future delivery ("legitimate hedge trading"); and (2) all other trading. Instructs the CFTC to review and: (1) revoke or modify prior action regarding certain transactions, participants, or petroleum futures market activity that is not a legitimate hedge trade; and (2) consider revoking results of prior actions that have the effect [...] show full description
Also tagged in: Administrative procedure, Aviation fuels, Coal, Commodity Futures Trading Commission, Congress, Congressional oversight, Congressional reporting requirements, Department of Energy, Derivative securities, Diesel motor, Electric power, Energy, Energy prices, Executive departments, Federal Energy Regulatory Commission, Finance, Futures trading, Government information, Government publicity, Heating, Independent regulatory commissions, Injunctions, Law, Natural gas, Petroleum, Propane, Swaps (Finance), Transportation
Latest Action: 06/24/2008 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. Bill TextA bill to provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes. 6/24/2008--Introduced. Prevent Unfair Manipulation of Prices Act of 2008 - Amends the Commodity Exchange Act (CEA) to extend the regulatory authority of the Commodity Futures Trading Commission (CFTC) to certain transactions in derivatives involving specified energy commodities ("included energy transactions"), including those on foreign boards of trade.Defines "included energy transaction" as a contract, agreement, or transaction in an energy commodity for future delivery that: (1) provides for a delivery point in the United States; or (2) is transacted on a computer terminal located in the United States.Prohibits the CFTC from exempting from regulation any "included energy transaction"[...] show full description
Also tagged in: Administrative procedure, Aviation fuels, Coal, Commodity Futures Trading Commission, Congress, Congressional oversight, Congressional reporting requirements, Department of Energy, Derivative securities, Diesel motor, Electric power, Energy, Energy prices, Executive departments, Federal Energy Regulatory Commission, Finance, Futures trading, Government information, Government publicity, Heating, Independent regulatory commissions, Injunctions, Law, Natural gas, Petroleum, Propane, Swaps (Finance), Transportation
Latest Action: 10/03/2008 - Referred to the Subcommittee on General Farm Commodities and Risk Management. Bill TextTo provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes. 6/20/2008--Introduced. Prevent Unfair Manipulation of Prices Act of 2008 - Amends the Commodity Exchange Act (CEA) to extend the regulatory authority of the Commodity Futures Trading Commission (CFTC) to certain transactions in derivatives involving specified energy commodities ("included energy transactions"), including those on foreign boards of trade.Defines "included energy transaction" as a contract, agreement, or transaction in an energy commodity for future delivery that: (1) provides for a delivery point in the United States; or (2) is transacted on a computer terminal located in the United States.Prohibits the CFTC from exempting from regulation any "included energy transaction" unless [...] show full description
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Latest Legislation - View All
Also tagged in: Administrative procedure, Agriculture, Appropriations, Budgets, Commodity Futures Trading Commission, Congress, Congressional reporting requirements, Continental shelf, Department of the Interior, Derivative securities, Electric batteries, Electric vehicles, Energy, Energy prices, Energy research, Executive departments, Federal employees, Finance, Futures trading, Gas in submerged lands, Government employees, Government information, Government procurement, Government publicity, Government trust funds, Government vehicles, Governmental investigations, Independent regulatory commissions, Law, Marine resources, Natural resources, Oil and gas leases, Oil shales, Oil well drilling, Open space lands, Petroleum in submerged lands, Public contracts, Recruiting of employees, Research and development, Science policy, Swaps (Finance), Transportation, Water conservation, Water resources
Latest Action: 06/27/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 854. Bill TextA bill to address record high gas prices at the pump, and for other purposes. 6/26/2008--Introduced. Gas Price Reduction Act of 2008 - Amends the Outer Continental Shelf Lands Act (OCSLA) to prescribe procedures for petition, by the governor of a state with a new producing area within the offshore administrative boundaries beyond the state's submerged land, to make the new producing area available for oil and gas leasing. Directs the Secretary of the Treasury to deposit specified percentages of outer Continental Shelf revenues into: (1) the general fund of the Treasury; and (2) into a special account in the Treasury for disbursal to both new producing states and to the Land and Water Conservation Fund. Amends the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2008, to repeal the prohibition against funding: (1) regulations regarding a commercial leasing program for oil shale resources on public lands; or (2) an oil shale lease [...] show full description
Also tagged in: Administrative procedure, Aviation fuels, Coal, Commodity Futures Trading Commission, Congress, Congressional oversight, Congressional reporting requirements, Department of Energy, Derivative securities, Diesel motor, Electric power, Energy, Energy prices, Executive departments, Federal Energy Regulatory Commission, Finance, Futures trading, Government information, Government publicity, Heating, Independent regulatory commissions, Injunctions, Law, Natural gas, Petroleum, Propane, Swaps (Finance), Transportation
Latest Action: 06/24/2008 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. Bill TextA bill to provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes. 6/24/2008--Introduced. Prevent Unfair Manipulation of Prices Act of 2008 - Amends the Commodity Exchange Act (CEA) to extend the regulatory authority of the Commodity Futures Trading Commission (CFTC) to certain transactions in derivatives involving specified energy commodities ("included energy transactions"), including those on foreign boards of trade.Defines "included energy transaction" as a contract, agreement, or transaction in an energy commodity for future delivery that: (1) provides for a delivery point in the United States; or (2) is transacted on a computer terminal located in the United States.Prohibits the CFTC from exempting from regulation any "included energy transaction"[...] show full description
Also tagged in: Administrative procedure, Business, Commodity Futures Trading Commission, Energy, Executive departments, Finance, Foreign policy, Futures trading, Governmental investigations, Independent regulatory commissions, Information disclosure (Securities law), International affairs, International cooperation, Law, Margins (Security trading), Petroleum
Latest Action: 06/24/2008 - Sponsor introductory remarks on measure. (CR S6021-6022) Bill TextA bill to amend the Commodity Exchange Act to provide oil and gas price relief by requiring the Commodity Futures Trading Commission to take action to end excessive speculation, and for other purposes. 6/24/2008--Introduced. End Oil Speculation Act of 2008 - Amends the Commodity Exchange Act to direct the Commodity Futures Trading Commission (CFTC) to eliminate manipulation and excessive speculation on petroleum futures markets by investigation, regulation, and rulemaking, while distinguishing between: (1) transactions by commercial producers and purchasers (as well as counterparties) involving actual physical petroleum products for future delivery ("legitimate hedge trading"); and (2) all other trading. Instructs the CFTC to review and: (1) revoke or modify prior action regarding certain transactions, participants, or petroleum futures market activity that is not a legitimate hedge trade; and (2) consider revoking results of prior actions that have the effect [...] show full description
Also tagged in: Administrative procedure, Aviation fuels, Coal, Commodity Futures Trading Commission, Congress, Congressional oversight, Congressional reporting requirements, Department of Energy, Derivative securities, Diesel motor, Electric power, Energy, Energy prices, Executive departments, Federal Energy Regulatory Commission, Finance, Futures trading, Government information, Government publicity, Heating, Independent regulatory commissions, Injunctions, Law, Natural gas, Petroleum, Propane, Swaps (Finance), Transportation
Latest Action: 10/03/2008 - Referred to the Subcommittee on General Farm Commodities and Risk Management. Bill TextTo provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes. 6/20/2008--Introduced. Prevent Unfair Manipulation of Prices Act of 2008 - Amends the Commodity Exchange Act (CEA) to extend the regulatory authority of the Commodity Futures Trading Commission (CFTC) to certain transactions in derivatives involving specified energy commodities ("included energy transactions"), including those on foreign boards of trade.Defines "included energy transaction" as a contract, agreement, or transaction in an energy commodity for future delivery that: (1) provides for a delivery point in the United States; or (2) is transacted on a computer terminal located in the United States.Prohibits the CFTC from exempting from regulation any "included energy transaction" unless [...] show full description
Also tagged in: Business, Criminal justice, Derivative securities, Energy, Energy prices, Finance, Fraud, Petroleum, Prices, Prosecution, Restrictive trade practices, Trade
Latest Action: 10/03/2008 - Referred to the Subcommittee on General Farm Commodities and Risk Management. Bill TextTo amend the Commodity Exchange Act to prevent price manipulation and excessive speculation and to increase transparency with respect to energy trading on foreign exchanges conducted within the United States. 6/17/2008--Introduced. Close the London Loophole Act of 2008 - Amends the Commodity Exchange Act to authorize the Commodity Futures Trading Commission (CFTC), in the case of a registered entity located within the United States, and subject to CFTC jurisdiction, which trades on a foreign board of trade, exchange, or market located outside the United States, to: (1) enforce criminal prosecution of violations, including manipulation or attempted manipulation, the making of false statements, and willful violations of this Act; (2) require a person to limit, reduce, or liquidate any position to prevent or reduce the threat of price manipulation, excessive speculation, price distortion, or disruption of delivery or the cash settlement process; and (3) apply necessary recordkeeping [...] show full description
Also tagged in: Building materials, Energy, Finance, Fuel, Futures trading, Gasoline, Heating, Metals, Natural gas, Petroleum, Propane
Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5631-5632) Bill TextA bill to amend the Commodity Exchange Act to require energy commodities to be traded only on regulated markets, and for other purposes. 6/12/2008--Introduced. Amends the Commodity Exchange Act to require energy commodities to be traded only on regulated markets.
Also tagged in: Administrative procedure, Business, Commodity Futures Trading Commission, Energy, Executive departments, Executive reorganization, Finance, Foundations, Futures trading, Government information, Government paperwork, Independent regulatory commissions, Inspectors general, Investments, Investors, Law, Pension funds, Pensions, Petroleum, Politics and government, Prices, Restrictive trade practices, Social services, Swaps (Finance)
Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5629-5630) Bill TextA bill to amend the Commodity Exchange Act to ensure the application of speculation limits to speculators in energy markets, and for other purposes. 6/12/2008--Introduced. Oil Speculation Control Act of 2008 - Amends the Commodity Exchange Act to define "institutional investor" as a long-term investor in financial markets (including pension funds, endowments, and foundations) that invests in energy commodities as an asset class in a portfolio of financial investments and does not take or make physical delivery of energy commodities on a frequent basis.Establishes in the Commodity Futures Trading Commission (CFTC) an Office of the Inspector General.Directs the CFTC to carry out a review of the trading practices of index traders, swap dealers, and institutional investors in markets under the CFTC's jurisdiction to: (1) ensure that index trading is not adversely impacting the price discovery process; (2) determine whether different practices or regulations [...] show full description
Also tagged in: Appropriations, Budgets, Business, Commodity Futures Trading Commission, Congress, Congressional investigations, Criminal justice, Derivative securities, Diesel motor, Energy, Energy prices, Executive departments, Executive reorganization, Federal employees, Finance, Fraud, Futures trading, Gasoline, Government employees, Government information, Government paperwork, Government publicity, Independent regulatory commissions, Information technology, Inspectors general, Petroleum, Politics and government, Prices, Restrictive trade practices, Swaps (Finance), Technology, Trade, Transportation
Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5628) Bill TextA bill to provide energy price relief by authorizing greater resources and authority for the Commodity Futures Trading Commission, and for other purposes. 6/12/2008--Introduced. Increasing Transparency and Accountability in Oil Prices Act of 2008 - Expresses the sense of the Senate that the President should immediately send to Congress a request for emergency appropriations for FY2008 for the Commodity Futures Trading Commission (CFTC) in an amount sufficient to: (1) help restore public confidence in energy commodities markets and federal oversight of those markets; (2) potentially impose limits on excessive speculation that is increasing the price of oil, gasoline, diesel, and other energy commodities; (3) significantly improve the information technology capabilities of the CFTC to help it effectively regulate the energy futures markets; and (4) fund at least 100 new full-time positions at the CFTC to oversee energy commodity market speculation and to enforce the Commodity [...] show full description
Also tagged in: Business, Criminal justice, Derivative securities, Energy, Energy prices, Finance, Fraud, Petroleum, Prices, Prosecution, Restrictive trade practices, Trade
Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5627-5628) Bill TextA bill to amend the Commodity Exchange Act to prevent price manipulation and excessive speculation and to increase transparency with respect to energy trading on foreign exchanges conducted within the United States. 6/12/2008--Introduced. Close the London Loophole Act of 2008 - Amends the Commodity Exchange Act to authorize the Commodity Futures Trading Commission (CFTC), in the case of a registered entity located within the United States, and subject to CFTC jurisdiction, which trades on a foreign board of trade, exchange, or market located outside the United States, to: (1) enforce criminal prosecution of violations, including manipulation or attempted manipulation, the making of false statements, and willful violations of this Act; (2) require a person to limit, reduce, or liquidate any position to prevent or reduce the threat of price manipulation, excessive speculation, price distortion, or disruption of delivery or the cash settlement process; and (3) apply necessary [...] show full description
Latest Action: 06/12/2008 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. Bill TextA bill to amend the Commodity Exchange Act to provide for the regulation of oil commodities markets, and for other purposes. 6/12/2008--Introduced. Policing United States Oil Commodities Markets Act of 2008 - Amends the Commodity Exchange Act to require a covered market or facility to register with the Commodities Futures Trading Commission (CFTC) as a designated contract market and be subject to each rule established and regulation promulgated by the CFTC. Defines "covered market or facility" as a contract market or electronic trading facility: (1) that operates one or more trading terminals within the United States; (2) on which there is transacted or facilitated any agreement, contract, or transaction that serves as a price discovery function for any energy commodity delivered in the United States; and (3) that is regulated by a foreign regulatory agency.
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