United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2007-07-12 monographic deposited born digital 20 p. GA 1.13:GAO-07-1095T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1095T P0b002ee1803a1d0b f:d071095t DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-07-1095T machine generated eng fdlp REPORT GAOREPORTS-GAO-07-1095T GAO-07-1095T Commodity futures Commodity marketing Commodity sales Crude oil Derivative securities Energy marketing Financial analysis Financial futures Gasoline Natural gas Petroleum prices Prices and pricing Testimony A72506 Energy prices for crude oil, heating oil, unleaded gasoline, and natural gas have risen substantially since 2002, generating questions about the reasons for the increase. Some observers believe that the higher energy prices were solely due to supply and demand fundamentals while others believe that increased futures trading activity may also have contributed to higher prices. This testimony highlights GAO's preliminary findings related to (1) trends and patterns in the futures and physical energy markets and the effect of these trends on energy prices and (2) the Commodity Futures Trading Commission's (CFTC) regulatory and enforcement authority over derivatives markets. GAO analyzed futures and large trader reporting data; trading data obtained from the New York Mercantile Exchange (NYMEX) for crude oil, heating oil, unleaded gasoline, and natural gas; and various other sources of energy-related data. GAO also analyzed relevant academic and other studies on the subject and interviewed market participants, experts, and officials at relevant federal agencies. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1095T/html/GAOREPORTS-GAO-07-1095T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1095T/pdf/GAOREPORTS-GAO-07-1095T.pdf GAO-07-1095T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1095T Testimony GAO-07-1095T; Energy Derivatives: Preliminary Views on Energy Derivatives Trading and CFTC Oversight; Commodity futures Commodity marketing Commodity sales Crude oil Derivative securities Energy marketing Financial analysis Financial futures Gasoline Natural gas Petroleum prices Prices and pricing