Senator Blocks CFTC Nominations

Law360, New York (July 25, 2008, 12:00 AM EDT) -- A Democratic senator is blocking three U.S. Commodity Futures Trading Commission nominations in order to push the agency to step up its oversight of energy markets in the face of rising oil prices.

The CFTC has stood by while rampant speculation in the commodities market is sending oil prices soaring, Sen. Maria Cantwell (D-Wash.) said in a speech on the Senate Floor on Thursday.

Several Democratic senators, including Cantwell, have urged the agency over the past few months to increase efforts to police commodities markets and...
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