Transcript

Energy and Environments Markets Advisory Committee Meeting, May 13, 2009

Expanded Committee to Discuss Views on Emissions Trading Markets and Relevant Energy Issues

The U.S. Commodity Futures Trading Commission (CFTC) will convene the first meeting of its expanded Energy and Environmental Markets Advisory Committee (EEMAC or Committee) on Wednesday, May 13, 2009 at 8 am at its headquarters in Washington, DC. The EEMAC, which includes previous representatives as well as eleven new experts on environmental markets, will focus for the first time on carbon dioxide and other emissions trading markets. The Committee will also examine energy markets and discuss legislation pending on Capitol Hill to regulate the role of speculators in commodity markets.

The Committee’s Chair, CFTC Commissioner Bart Chilton, said, “The CFTC has a longstanding history of federal regulation of derivatives trading—from monitoring exchange activity and ensuring financial responsibility, to carrying out disciplinary and enforcement actions—and we need to ensure we are prepared to address the trading of carbon. These could be the biggest commodity markets in years and the agency needs to be prepared to protect these markets and consumers alike from fraud, abuse and manipulation.”

The CFTC’s Division of Market Oversight will present an update on energy and environmental markets, and several Committee members will present their views on specific issues. The Commission has invited staff from other federal agencies as well to attend as observers.

The meeting is open to the public. The meeting will be webcast via the internet and audio of the hearing is also available via a listen-only conference call.