Statement of Commissioner Michael V. Dunn Energy and Environmental Markets Advisory Committee Meeting

September 16, 2009

Thank you Mr. Chairman for leading today’s meeting. I commend you for your work in this vitally important and area and look forward to hearing from the participants you have gathered today to speak about energy markets, carbon markets, regulatory reform, and proposed legislation in these areas.

Our goal as a Commission is to ensure that the energy markets we regulate function properly and are free of manipulation and other abusive practices. Three days of hearings regarding the possibility of imposing position limits in energy markets has confirmed concerns I held prior to the hearings. Most importantly, can the CFTC effectively regulate energy markets without having a broad view into all the venues in which these contracts trade – our regulated markets, over-the-counter markets, and overseas markets? I am hopeful that this advisory committee, and the experts you have called to speak today, will be able to shed some light on the best way forward in this area. I am also interested in hearing more about the emergence of carbon markets and how best to regulate this growing industry. Lastly, I would like to hear from the advisory committee’s thoughts on what resources the CFTC will need to effectively regulate the energy and carbon markets.

I look forward to hearing from our panelists and once again, Mr. Chairman, I thank you for calling today’s meeting.

Last Updated: June 10, 2010