To direct the Commodity Futures Trading Commission to utilize all its authority, including its emergency powers, to curb immediately the role of excessive speculation in any contract market within the jurisdiction and control of the Commodity Futures Trading Commission, on or through which energy futures or swaps are traded, and to eliminate excessive speculation, price distortion, sudden or unreasonable fluctuations or unwarranted changes in prices, or other unlawful activity that is causing major market disturbances that prevent the market from accurately reflecting the forces of supply and demand for energy commodities.
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Energy Markets Emergency Act of 2008 - Directs the Commodity Futures Trading Commission (CFTC) to utilize all its authority, including its emergency powers, to: (1) curb immediately the role of excessive speculation in any contract market within its jurisdiction and control on or through which energy futures or swaps are traded; and (2) eliminate excessive speculation, price distortion, sudden or unreasonable fluctuations or unwarranted changes in prices, or other unlawful activity that is causing major market disturbances that prevent the market from accurately reflecting the forces of supply and demand for energy commodities.
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Mr. Peterson (MN) moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H6103-6110)
DEBATE - The House proceeded with forty minutes of debate on H.R. 6377.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H6143-6144)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 402 - 19 (Roll no. 468).(text: CR H6103-6104)
Roll Call #468 (House)On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 402 - 19 (Roll no. 468). (text: CR H6103-6104)
Roll Call #468 (House)checking server…
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Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate.
Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 864.