http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_HR_6279.html?rev=33325 <p>H.R. 6279 would reduce speculation in crude oil markets.</p> <h2 id="toc0"> Detailed Summary </h2> <p>Oil Speculation Reduction Act of 2008 - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC) from exempting a board of trade, exchange, or market located outside the United States from the requirement to become a designated contract market, derivatives transaction execution facility, or other registered entity, with respect to agreements, contracts, and transactions (transactions) in crude oil to be physically delivered in the United States, unless the CFTC makes certain determinations.</p> <p>Requires the CFTC to determine, in order to make such an exemption, that the board of trade, exchange, or market: (1) applies principles or requirements regarding the daily publication of trading information and position limits or accountability levels for speculators in such transactions comparable to those applied by a designated contract market, derivatives transaction execution facility, or other registered entity; (2) provides information to the CFTC regarding the extent of speculative and nonspeculative trading in transactions in crude oil comparable to the information the CFTC determines necessary to publish a Commitment of Traders report for a designated contract market, derivatives transaction execution facility, or other registered entity with respect to the trading; and (3) imposes margin requirements comparable to those imposed by a designated contract market, derivatives transaction execution facility, or other registered entity for commodities, and sufficient to reduce excessive speculation and protect consumers.</p> <p>Directs CFTC to determine whether to continue to grant any such exemption that was granted before the enactment of this Act to any board of trade, exchange, or market located outside the United States.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 10/3/2008: Referred to House subcommittee. Status: Referred to the Subcommittee on General Farm Commodities and Risk Management.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 33325@http://www.washingtonwatch.com Thu, 09 Oct 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_6279.html 10/3/2008: Referred to House subcommittee. Status: Referred to the Subcommittee on General Farm Commodities and Risk Management. 41268@http://www.washingtonwatch.com Fri, 03 Oct 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_6279.html?rev=27828 <p>H.R. 6279 would reduce speculation in crude oil markets.</p> <h2 id="toc4"> Detailed Summary </h2> <p>Oil Speculation Reduction Act of 2008 - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC) from exempting a board of trade, exchange, or market located outside the United States from the requirement to become a designated contract market, derivatives transaction execution facility, or other registered entity, with respect to agreements, contracts, and transactions (transactions) in crude oil to be physically delivered in the United States, unless the CFTC makes certain determinations.</p> <p>Requires the CFTC to determine, in order to make such an exemption, that the board of trade, exchange, or market: (1) applies principles or requirements regarding the daily publication of trading information and position limits or accountability levels for speculators in such transactions comparable to those applied by a designated contract market, derivatives transaction execution facility, or other registered entity; (2) provides information to the CFTC regarding the extent of speculative and nonspeculative trading in transactions in crude oil comparable to the information the CFTC determines necessary to publish a Commitment of Traders report for a designated contract market, derivatives transaction execution facility, or other registered entity with respect to the trading; and (3) imposes margin requirements comparable to those imposed by a designated contract market, derivatives transaction execution facility, or other registered entity for commodities, and sufficient to reduce excessive speculation and protect consumers.</p> <p>Directs CFTC to determine whether to continue to grant any such exemption that was granted before the enactment of this Act to any board of trade, exchange, or market located outside the United States.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>Latest Major Action: 6/17/2008: Referred to House committee. Status: Referred to the House Committee on Agriculture.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 27828@http://www.washingtonwatch.com Tue, 22 Jul 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_6279.html?rev=25863 <p>H.R. 6279 would reduce speculation in crude oil markets.</p> <h2 id="toc8"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc9"> Status of the Legislation </h2> <p>(Log in to edit the wiki and be the first to update the status of the bill!)</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc10"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc11"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 25863@http://www.washingtonwatch.com Wed, 18 Jun 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_6279.html?rev=25864 <p>H.R. 6279 would reduce speculation in crude oil markets.</p> <h2 id="toc12"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc13"> Status of the Legislation </h2> <p>Latest Major Action: 6/17/2008: Referred to House committee. Status: Referred to the House Committee on Agriculture.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc14"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc15"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 25864@http://www.washingtonwatch.com Wed, 18 Jun 2008 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_6279.html 6/17/2008: Referred to House committee. Status: Referred to the House Committee on Agriculture. 36749@http://www.washingtonwatch.com Tue, 17 Jun 2008 00:00:00 EDT