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H.R. 6377 (110th): Energy Markets Emergency Act of 2008


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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


6/26/2008--Passed House without amendment. 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.