New Bill Would Give CFTC Derivatives Oversight

A bill introduced to the U.S. Congress would give the Commodity Futures Trading Commission regulatory oversight over carbon dioxide derivatives.

Representative Bart Stupak (Democrat, Michigan) has revised his Prevent Unfair Manipulation of Prices (Pump) Act, which aims to “close loopholes that have speculators to manipulate energy markets and artificially inflate prices,” according to a statement by Stupak.

The congressman is a member of the House Energy and Commerce Committee, which is considering the American Clean Energy and Security Act. This act would create a new carbon emissions trading market, which Stupak sees as an opportunity for speculators to ramp up prices.