The CFTC today opened its 90-day window of discussion on proposed position limits for certain commodity futures, . The suggested level is set high enough they can claim a political victory without actually doing anything valuable (nor harmful in this case).
That’s the problem with Legislators. So much time and money wasted on something like this. Wait until the first big price spike, or the existing uptrend challenges the Peak Oil highs. There will be lots of red faces, hiding and “taking a good hard look at this again.”