 |
|
| U.S. Senate Committee on Homeland Security and Governmental Affairs |
| Permanent Subcommittee on Investigations |
|
| Title: Excessive Speculation In The Natural Gas Market (Day One) |
| Date: 6/25/07 |
| Time (EST): 11:00 AM |
| Place: Dirksen Senate Office Building, Rm. 106 |
| The Permanent Subcommittee on Investigations has scheduled two days of hearings entitled, Excessive Speculation In The Natural Gas Market. The hearings are set for Monday, June 25th at 11:00 a.m., in Room 106 of the Dirksen Senate Office Building, and Monday, July 9th at 2:30 p.m., in Room 342 of the Dirksen Senate Office Building.
The Subcommittee’s hearing will examine the reasons for the extreme price levels and volatility in the natural gas futures markets in 2006 and how excessive speculation by a single hedge fund, Amaranth LLC, dominated the natural gas market and distorted natural gas futures prices. The hearing also will examine the extent to which excessive speculative trading on unregulated energy exchanges contributed to the price distortions, and the need for statutory and regulatory changes to prevent manipulation and excessive speculation on unregulated exchanges from detrimentally affecting energy prices.
Witnesses for the upcoming hearing will include Amaranth, the Commodity Futures Trading Commission, the Intercontinental Exchange, the New York Mercantile Exchange, natural gas users, and academics. A witness list for the June 25th hearing is below. A witness list for the July 9th hearing is availabe at the July 9th hearing site.
Staff Report - Excessive Speculation in the Natural Gas Market
Appendix - Excessive Speculation in the Natural Gas Market |
 |
| Webcast:
Click
here to view archived hearing (Real Player format) |
Publication:
Hearing Publication not available until six months after the hearing date.
Check for Downloadable Publication
Order Printed Publication
|
|
Real.com
Download your free real player by clicking on the link to the
left to view the Hearing. |
 |
|
| |
| Member
Statements |
|
|
|
| |
 |
| Witnesses
Testimony
|
| |
Panel 1
| |
ARTHUR CORBIN
[View
PDF]
, President and CEO
, Municipal Gas Authority of Georgia
, Oh behalf of the American Public Gas Association,
Kennesaw, Georgia
|
| |
PAUL N. CICIO
[View
PDF]
, President
, Industrial Energy Consumers of America
, Washington, D.C. |
| |
SEAN COTA
[View
PDF]
, President, New England Fuel Institute
, Northeast President, Petroleum Marketers Association of America
, Co-Owner and President, Cota & Cota, Inc.,
Watertown, Massachusetts |
Panel 2
| |
VINCE KAMINSKI
[View
PDF]
, Professor, Jesse H. Jones Graduate School of Management
, Rice University
, Houston, Texas |
| |
Michael Greenberger
[View
PDF]
, Professor, School of Law
, University of Maryland
|
Panel 3
| |
SHANE LEE
[View
PDF]
, Former Natural Gas Trader at Amaranth LLC
, Calgary, Alberta, Canada |
|
|
