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Topic Title: Asia Global Energy Issues Lawmaker urges probe of possible energy market manipulation
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Created On: 26 September 2013 09:39 AM
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 26 September 2013 09:39 AM
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aubreyreed

Posts: 1
Joined: 26 September 2013

The chairwoman of the Senate Agriculture Committee called Tuesday upon regulators to launch an investigation into possible manipulation of the market for ethanol credits.

Sen. Debbie Stabenow (D-Mich.) is asking the Commodities Future Trading Commission (CFTC) to look into reports of suspicious activity involving Renewable Identification Numbers (RINs), which are assigned to ethanol-blended fuels that meet the Renewable Fuels Standard and traded in the financial sector.

The unregulated RINs market has experienced volatility and dramatic price spikes in recent months.

"I would like the CFTC to help determine whether factors other than supply and demand have been causing extraordinary volatility in the price of RINs and to what extent fraud and manipulation have been affecting the price of RINs," Stabenow wrote in a letter to CFTC Chairman Gary Gensler.

She questioned whether increased regulation is needed in the renewable energy market.

"I am concerned that a lack of transparency in these markets has made them more susceptible to manipulation," she wrote. "If this is the case, it is a problem that must be identified and fixed."

Earlier this month, Scott Mixon, the CFTC's acting chief economist, told The New York Times that the issue was agency's radar, and regulators were considering expanding scrutiny of the market for ethanol credits.
 26 September 2013 12:54 PM
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westonpa

Posts: 1771
Joined: 10 October 2007

"She questioned whether increased regulation is needed in the renewable energy market."

Often the error is lack of enforcement of existing regulation and it's just that the politicians do not want to admit to this and so start suggesting more regulation. Nowadays many of the enforcers are having their budgets significantly reduced and hence many things go unchecked or else are not properly checked.

Regards.
 26 September 2013 01:03 PM
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ectophile

Posts: 546
Joined: 17 September 2001

I do wonder at the people who sign up to this forum just to cut-and-paste press releases with no further comment of their own.

Are they just building up their post count so that they can then start a spamming campaign?

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S P Barker BSc PhD MIET
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