New Jersey Citizen Action Oil Group is constantly on the front line fighting for better oil prices for our members. We want to put an end to the excessive speculation and trade practices in the commodities trading markets that have led to historically high prices.
NJCA Oil Group is a proud member of a coalition fighting to keep oil prices in check: the Commodity Markets Oversight Coalition. CMOC is an independent, non-partisan and non-profit alliance of groups that represents commodity-dependent industries, businesses and end-users — including average American consumers — that rely on functional, transparent and competitive commodity derivatives markets as a hedging and price discovery tool. The coalition advocates in favor of government policies that promote stability and confidence in the commodities markets, that seek to prevent fraud, manipulation and excessive speculation, and that preserve the interests of bona fide hedgers and consumers.
At CMOC's website, you can find many resources, including letters, testimony, talking points, sudies on speculation, and more.
Commodity Markets Oversight Coalition (CMOC) Makes The News!
Read "Wall Street Fights Rule Limiting Oil Speculation" (CNNMoney — February 27, 2012).
TAKE ACTION! Support Senate Bill # S.1961, which will provide level funding for the Low-Income Home Energy Assistance Program ("LIHEAP").
The Reed-Snowe-Sanders LIHEAP Protection Act will maintain LIHEAP funding at the FY2011 level of $4.7 billion to ensure that vulnerable Americans do not get left out in the cold. Read the bill, and its current status.
Tell both Senator Lautenberg and Senator Menendez: Support the LIHEAP Protection Act
I urge you to support Senate Bill # S.1961, the LIHEAP Protection Act, which will maintain Low-Income Home Energy Assistance Program funding at the FY2011 level of $4.7 billion. This will ensure that vulnerable Americans do not get left out in the cold.
|Email Senator Lautenberg
||also please||Email Senator Menendez
|Or Phone or Fax Sen. Lautenberg
||Or Phone or Fax Sen. Menendez
Thank you for taking action!
Make Your Voice Heard!
The Commodity Futures Trading Commission (CFTC), a government oversight commission, has a new feature on their website called Public Comments. This allows visitors to file a public comment in response to a proposed Commission rule or an industry submission pending.
We encourage you to use this platform to voice your concerns about oil prices being affected by the stock market. Make your voice heard — let them know that you won't stand for high oil prices anymore!
VICTORY! Federal Energy Assistance Funding Doubled; Off-Shore Drilling Ban Expires
Congress gave final approval to a FY2009 stop-gap funding measure that doubles funding for the federal Low Income Home Energy Assistance Program (LIHEAP). This is a major victory. NJCA has been fighting for a fully funded LIHEAP program for years. New Jersey will receive an additional $89,996,000, bringing the total LIHEAP funds to $166,861,000!
Also included were measures allowing states to increase LIHEAP eligibility to 75 percent of state median income, and providing $477 million (also double FY2008 level) for the federal Weatherization Assistance Program (WAP). The bill also let the moratorium on off-shore drilling expire (October 1, 2008). Democratic leaders may pursue limits on off-shore drilling next year, but it is unlikely that the full ban will be reinstated.
VICTORY! House And Senate In Stalemate On Energy Tax Extenders Bill
Congress has passed a "tax extenders" bill that includes vital biofuels tax credits. Among other things, the bill extends the biodiesel tax credit, closes the so-called biodiesel "splash and dash" loophole, and corrects the Alternative Minimum Tax (AMT).