Bid to close Enron loophole

The over-the-counter energy markets could soon be subject to far greater scrutiny under new legislation currently being proposed in the US.

Senator Carl Levin's proposed "Close the Enron Loophole Act" targets what it refers to as "energy commodity markets" - such as crude oil, natural gas, electricity, heating oil, and diesel fuel - and subjects them to Commodity Futures Trading Commission (CFTC) oversight in a bid to prevent speculation-driven price spikes.

The bill takes its name from a

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