Wall Street Is Driving Up Heating Bills?

It's likely that no bankers are sneaking into your house like cobbler’s elves to turn up your thermostat.

But Wall Street still could be driving up your heating bills.

Here’s how: Wall Street banks gamble on what they think future energy costs will be. By dominating the market in these “energy futures,” they actually raise the price of energy for you and me. Without competition in these markets, these prices stay artificially high — and so do big bank profits.

Tell the Commodity Futures Trading Commission to stand up for consumers and to end bank domination of energy markets.

Thankfully, a part of the Wall Street reform law that passed last summer is designed to end bank domination of energy markets. Basically, the law gives a federal agency called the Commodity Futures Trading Commission the authority to make these markets more transparent and competitive.

But, of course, the banks have hired lobbyists to fight the agency’s rules every step of the way.

Wall Street bankers are keeping energy prices artificially high by keeping these energy futures markets secret just so they can make even more profits.

Take action now! Go to: Citizen.org Energy Futures Petition

It’s time to shine some sunlight on bank activities that drive up consumer prices. Tell the Commodity Futures Trading Commission to stand up for consumers.

Thanks for all you do,

Rick Claypool
Public Citizen's Online Action Team
action@citizen.org

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