Cadwalader Clients & Friends Memo: Commodity Markets' Enforcement Landscape To Shift With Federal Trade Commission's Launch Of First Crude Oil Investigation Under 2007 Law

Today [June 21, 2011], Senator Jay Rockefeller announced that the Federal Trade Commission (FTC) has agreed to start an investigation into oil and gasoline markets and the impact on retail prices.  In a letter to Senator Rockefeller announcing the investigation, the FTC indicated that it was attempting to determine "whether certain oil producers, refiners, transporters, marketers, physical or financial traders, or others (1) have engaged or are engaging in practices that have lessened or may lessen competition - or have engaged or are engaging in manipulation - in the production, refining, transportation, distribution, or wholesale supply of crude oil or petroleum products; or (2) have provided false or misleading information related to the wholesale price of crude oil or petroleum products to a federal department or agency."

Please click on the Attachment: link at the top of the post to view or download the article.