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H.R.6264 / 110th Congress

To prevent excessive speculation in over-the-counter derivatives markets for certain energy commodities by limiting participation in those markets to persons who are capable of producing, manufacturing, or taking physical delivery of the commodities.

Referred to the Subcommittee on General Farm Commodities and Risk Management.

Official summary

Version 00 · Introduced in House · Jun 12, 2008

Amends the Commodity Exchange Act to make it unlawful for a person to enter into or execute an otherwise excluded swap transaction or exempt transaction involving crude oil, heating oil, gasoline, or diesel fuel (specified energy commodity), unless the person has been certified by the Commodities Future Trading Commission (CFTC) as having the capacity of accepting physical delivery of the commodity.

Makes it unlawful, as well, for any person to hold a contract or agreement of sale of a specified energy commodity for future delivery, which is otherwise an excluded swap transaction or an exempt transaction, unless the CFTC has certified that the person has the capacity to produce or manufacture the commodity.

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Who introduced it

Rep. Larson, John B. [D-CT-1] · D–CT

Committees

  • Agriculture Committee
121 cosponsorship records, including any withdrawals

Actions

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  1. Referred to the Subcommittee on General Farm Commodities and Risk Management.

  2. Referred to the House Committee on Agriculture.

  3. Introduced in House

  4. Introduced in House

Bill text & related measures

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Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Feb 5, 2024. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.6264 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Fairness and public impact

Progressive lens

Examine H.R.6264 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Institutions and government scope

Conservative lens

Examine H.R.6264 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Individual rights and government power

Liberty lens

Examine H.R.6264 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

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