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FOXX FIGHTS FOR NATURAL GAS TRANSPARENCY
Washington, DC,
December 9, 2005
United States Rep. Virginia Foxx (N.C.-5) and her colleagues on the House Agriculture Committee have passed an amendment to bring more transparency to the trading of natural gas prices. This will protect the citizens of the Fifth District f
FOR IMMEDIATE RELEASE Protects her constituents from price gouging United States Rep. Virginia Foxx (N.C.-5) and her colleagues on the House Agriculture Committee have passed an amendment to bring more transparency to the trading of natural gas prices. This will protect the citizens of the Fifth District from artificially inflated costs associated with heating their homes. “With the onset of winter already upon us, Northwest North Carolinians are bracing for the high cost of keeping their homes warm,” said Rep. Foxx. “Although supply and demand has driven natural gas prices up, there is a growing concern of artificially inflated natural gas prices on our commodities markets as well. That is why I supported Chairman Bob Goodlatte’s amendment to the Commodity Futures Trading Commission (CFTC) reauthorization.” The amendment directs the CFTC to investigate market manipulation during price spikes and gives them the authority to obtain trading data when it suspects manipulation may have occurred. The amendment also increases the penalties for manipulation. “I am pleased this amendment passed,” said Rep. Foxx. “With high natural gas prices, I will do everything I can to keep the cost low for Fifth District families and farmers.” ### |