The US House of Representatives has approved legislation to reduce speculation in the energy markets, despite another appeal from the Futures Industry Association to reject such a move.
The bill, known as the Commodity Markets Transparency and Accountability Act, HR 6604, places trading limits on traders and broadens the powers of the Commodity Futures Trading Commission. It was passed by the House on Thursday September 18 with a majority of 283 to 133, but still needs Senate and Presidential approval to become law.
Collin Peterson...