On the Issues
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ENERGY DERIVATIVES Senator Levin has co-sponsored bipartisan legislation to remove the so-called "Enron exemption" and prohibit fraud and manipulation in over-the-counter energy markets. This legislation would also give the federal government the tools to monitor these markets to prevent fraud and manipulation. Recent federal investigations into western power markets uncovered pervasive fraud and manipulation in energy markets. A yearlong investigation by the Senate Permanent Subcommittee on Investigations, under Senator Levin’s direction, found that manipulation in unregulated over-the-counter crude oil markets is difficult to detect because of inadequate disclosure and oversight. The legislation Senator Levin is co-sponsoring would close the loopholes that enable some traders to manipulate the energy markets without detection. |
Crude Oil Investigation
In May 2002, Senator Levin directed the staff of the Permanent Subcommittee on Investigations to investigate whether the Department of Energy’s program to fill the Strategic Petroleum Reserve was increasing the price of crude oil and the operation of the crude oil markets. more >
Energy Derivatives
Senator Levin has co-sponsored bipartisan legislation to remove the so-called "Enron exemption" and prohibit fraud and manipulation in over-the-counter energy markets. more >
Energy Policy
As we move forward with a national energy policy, we need to ensure that we support policies that will decrease our dependence on foreign oil and protect our national energy security but at the same time promote renewable energy sources, environmentally responsible domestic production and tax incentives for energy efficiency and advanced automobile fuel technology. more >
Gasoline Price Investigation
Following unusually large and sudden increases in gasoline prices throughout the Midwest in 2000 and 2001, Senator Levin initiated an investigation to determine the causes of these price spikes. more >
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