I 
110TH CONGRESS 
2D SESSION 
H. R. 6130 
To provide for a study of the effects of speculation in the futures markets 
for natural gas, crude oil, and gasoline on cash market and retail prices 
for the commodities and on the choice of trading venue, and to require 
the Commodity Futures Trading Commission to issue a notice of pro-
posed rulemaking regarding comparability of foreign regulation of futures 
and derivatives trading. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 22, 2008 
Mr. BARTON of Texas (for himself, Mr. UPTON, Mr. DEAL of Georgia, Mr. 
WHITFIELD of Kentucky, Mr. SHADEGG, Mr. PICKERING, Mr. RADANO-
VICH, Mrs. BONO MACK, Mr. TERRY, Mr. ROGERS of Michigan, Mrs. 
MYRICK, Mr. BURGESS, Mr. MCCAUL of Texas, Mr. BRADY of Texas, Mr. 
SAM JOHNSON of Texas, Mr. GALLEGLY, Mr. PEARCE, Mr. MCCRERY, 
Mr. KUHL of New York, and Mr. ISSA) introduced the following bill; 
which was referred to the Committee on Agriculture, and in addition to 
the Committee on Energy and Commerce, for a period to be subsequently 
determined by the Speaker, in each case for consideration of such provi-
sions as fall within the jurisdiction of the committee concerned 
A BILL 
To provide for a study of the effects of speculation in the 
futures markets for natural gas, crude oil, and gasoline 
on cash market and retail prices for the commodities 
and on the choice of trading venue, and to require the 
Commodity Futures Trading Commission to issue a no-
tice of proposed rulemaking regarding comparability of 
foreign regulation of futures and derivatives trading. 
VerDate Aug 31 2005 
19:42 May 24, 2008
Jkt 069200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6652
E:\BILLS\H6130.IH
H6130
hsrobinson on PROD1PC76 with BILLS
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. STUDY OF EFFECTS OF SPECULATION IN THE 
FUTURES 
MARKETS 
FOR 
NATURAL 
GAS, 
CRUDE OIL, AND GASOLINE ON CASH MAR-
KET AND RETAIL PRICES, AND CHOICE OF 
TRADING VENUE. 
(a) STUDY.—The Federal Trade Commission, the 
Board of Governors of the Federal Reserve System, and 
the Energy Information Agency, in consultation with the 
Commodity Futures Trading Commission, other Federal 
agencies, and other entities involved in gathering and re-
viewing such information, shall jointly conduct a study of 
the effects of speculation in the futures markets (including 
foreign futures markets) for natural gas, crude oil, and 
gasoline on cash market and retail prices for the commod-
ities. The study shall focus on the effects of margin re-
quirements, position limits, and other regulatory require-
ments that apply with respect to trading in the commod-
ities on the choice of trading venue. 
(b) REPORT TO THE CONGRESS.—Within 180 days 
after the date of the enactment of this Act, the Federal 
Trade Commission shall submit to the Committee on En-
ergy and Commerce of the House of Representatives and 
VerDate Aug 31 2005 
19:42 May 24, 2008
Jkt 069200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H6130.IH
H6130
hsrobinson on PROD1PC76 with BILLS
the Committee on Commerce of the Senate a report on 
the results of the study required by subsection (a). 
SEC. 2. REQUIREMENT THAT THE COMMODITY FUTURES 
TRADING COMMISSION ISSUE A NOTICE OF 
PROPOSED RULEMAKING REGARDING COM-
PARABILITY OF FOREIGN REGULATION OF 
FUTURES AND DERIVATIVES TRADING. 
Within 6 months after the date of the enactment of 
this Act, the Commodity Futures Trading Commission 
shall— 
(1) issue a notice of proposed rulemaking re-
garding how the Commission determines whether 
regulation of futures contracts and derivatives (in-
cluding any related position limits, margin require-
ments, and reporting requirements) by a foreign 
country is comparable to regulation of such under 
the Commodity Exchange Act, which includes a re-
quest for comments from the public regarding the 
factors which the Commission should consider in 
making such a determination; 
(2) evaluate any such comments submitted to 
the Commission; and 
(3) determine whether the Commission should 
issue a proposed rule regarding the matter. 
Æ 
VerDate Aug 31 2005 
19:42 May 24, 2008
Jkt 069200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H6130.IH
H6130
hsrobinson on PROD1PC76 with BILLS