FERC, CFTC Probed On Oversight Of Gas Trading

Law360, New York (February 7, 2007, 12:00 AM EST) -- The chairman of the Senate Energy Committee is seeking further information on whether futures traders are manipulating markets that set natural-gas prices, calling it a “critical consumer protection issue.”

On Tuesday, Sen. Jeff Bingaman (D-N.M.) sent two separate letters to the Commodity Futures Trading Commission and the Federal Energy Regulatory Commission, the two agencies responsible for monitoring natural-gas markets, seeking more information on their oversight of trading activities that may have affected natural gas supply costs.

In the letters, Bingaman noted the “continued volatility” in energy...
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