[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 2238 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 2238

 To amend the Commodity Exchange Act to require a regulation to limit 
    the aggregate positions of nontraditional bona fide hedgers in 
                    petroleum and related products.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 27, 2012

   Mr. Pryor introduced the following bill; which was read twice and 
   referred to the Committee on Agriculture, Nutrition, and Forestry

_______________________________________________________________________

                                 A BILL


 
 To amend the Commodity Exchange Act to require a regulation to limit 
    the aggregate positions of nontraditional bona fide hedgers in 
                    petroleum and related products.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. POSITION LIMITS FOR PETROLEUM AND RELATED PRODUCTS.

    Section 4a(a)(6) of the Commodity Exchange Act (7 U.S.C. 6a(a)(6)) 
is amended--
            (1) by redesignating subparagraphs (A) through (C) as 
        clauses (i) through (iii), respectively, and indenting 
        appropriately;
            (2) by striking ``The Commission shall'' and inserting the 
        following:
                    ``(A) In general.--The Commission shall''; and
            (3) by adding at the end the following:
                    ``(B) Petroleum and related products.--The 
                Commission shall, by regulation, establish limits on 
                the aggregate number or amount of positions in 
                contracts for petroleum or related products that may be 
                held by any person, including any group or class of 
                traders, for each month across contracts described in 
                clauses (i) through (iii) of subparagraph (A), so 
                that--
                            ``(i) the short position for traditional 
                        bona fide hedgers in the aggregate is not less 
                        than 50 percent; and
                            ``(ii) the long position for traditional 
                        bona fide hedgers in the aggregate is not less 
                        than 50 percent.''.
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