Volcker Rule Could Clobber Energy Industry, Report Warns

Law360, New York (March 29, 2012, 8:57 PM EDT) -- The proposed Volcker rule restricting banks’ speculative trading has the potential to sap energy development, increase electricity and gasoline costs, and put hundreds of thousands of people out of work, according to a Morgan Stanley-commissioned report released Wednesday.

Banks have become instrumental in helping the energy industry manage commodity risk, and the rule could increase costs for energy companies and consumers if implemented in its current form, researchers at IHS Inc. said in the report.

A key component of the 2010 Dodd-Frank Wall Street Reform and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.