A bill to amend the Commodity Exchange Act to require a regulation to limit the aggregate positions of nontraditional bona fide hedgers in petroleum and related products.

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Mar 27, 2012

Amends the Commodity Exchange Act with respect to excessive speculation in a commodity under contracts of sale to direct the Commodity Futures Trading Commission (CFTC) to establish limits on the aggregate number or amount of positions in contracts for petroleum or related products that may be held by any person, or any group or class of traders, for each month across specified contracts so that: (1) the short position for traditional bona fide hedgers in the aggregate is not less than 50% percent; and (2) the long position for such hedgers in the aggregate is not less than 50% percent.

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People & committees

Who introduced it

Sen. Pryor, Mark L. [D-AR] · D–AR

Committees

Agriculture, Nutrition, and Forestry Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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Mar 27, 2012
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Mar 27, 2012
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Mar 27, 2012 Formatted Text PDF Formatted XML

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: Jan 14, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze S.2238 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.

View full prompt & sources

Discuss S.2238, 112th Congress: A bill to amend the Commodity Exchange Act to require a regulation to limit the aggregate positions of nontraditional bona fide hedgers in petroleum and related products.

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/2238

Text version to examine: Introduced in Senate · 2012-03-27.

Official full text: https://www.congress.gov/112/bills/s2238/BILLS-112s2238is.htm

Imported record last updated by the source: 2025-01-14T16:41:32Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.2238 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.

Fairness and public impact

Progressive lens

Examine S.2238 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.

View full prompt & sources

Discuss S.2238, 112th Congress: A bill to amend the Commodity Exchange Act to require a regulation to limit the aggregate positions of nontraditional bona fide hedgers in petroleum and related products.

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/2238

Text version to examine: Introduced in Senate · 2012-03-27.

Official full text: https://www.congress.gov/112/bills/s2238/BILLS-112s2238is.htm

Imported record last updated by the source: 2025-01-14T16:41:32Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2238 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.

Institutions and government scope

Conservative lens

Examine S.2238 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.

View full prompt & sources

Discuss S.2238, 112th Congress: A bill to amend the Commodity Exchange Act to require a regulation to limit the aggregate positions of nontraditional bona fide hedgers in petroleum and related products.

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/2238

Text version to examine: Introduced in Senate · 2012-03-27.

Official full text: https://www.congress.gov/112/bills/s2238/BILLS-112s2238is.htm

Imported record last updated by the source: 2025-01-14T16:41:32Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2238 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.

Individual rights and government power

Liberty lens

Examine S.2238 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.

View full prompt & sources

Discuss S.2238, 112th Congress: A bill to amend the Commodity Exchange Act to require a regulation to limit the aggregate positions of nontraditional bona fide hedgers in petroleum and related products.

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/2238

Text version to examine: Introduced in Senate · 2012-03-27.

Official full text: https://www.congress.gov/112/bills/s2238/BILLS-112s2238is.htm

Imported record last updated by the source: 2025-01-14T16:41:32Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2238 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.