U.S. Commodity Funds LLC To Defend ETFs Wednesday Morning (UNG, USO)

ungJohn Hyland, the chief investment officer of the widely watched funds known as U.S. Oil Fund (USO) and U.S. Natural Gas Fund (UNG), will be speaking for U.S. Commodity Funds, LLC addressing the current application of position limits and exemptions from position limits in energy markets. The Commodity Futures Trading Commission (CFTC) will be holding a hearing to Discuss Energy Position Limits and Hedge Exemptions Wednesday between 9am and 1pm.  You can call in to listen to the hearing, or watch the live webcast. The following are the specifics on this hearing.

For Release: July 31, 2009

CFTC Announces Participants for Third Hearing to Discuss Energy Position Limits and Hedge Exemptions
Third Hearing Scheduled for August 5, 2009
Washington DC – The Commodity Futures Trading Commission (CFTC) today announced the participants for the third of three hearings to address the current application of position limits and exemptions from position limits in energy markets. The hearing is scheduled to be held between 9:00 a.m. EDT and 1:00 p.m. EDT on Wednesday, August 5, 2009.

Panel One:

John Hyland, U.S. Commodity Funds
Paul Cicio, Industrial Energy Consumers of America
Steven Graham, Schneider National Inc., American Trucking Association
 
Panel Two:
 
John Arnold, Centaurus
Elliot Chambers, Chesapeake Energy
Phil Verlager, University of Calgary
 
Panel Three:
 
Mike Masters, Masters Capitol
Mark Young, Kirkland & Ellis, Futures Industry Association
Michael Greenberger, University of Maryland, AFL-CIO

For details of the Commission’s first two hearings see CFTC Press Releases 5681-09 and 5682-09.

The hearing will be open to the public and will be webcast via the internet. In addition, audio of the hearings will be available via a listen-only conference call.

What: Third Hearing on Energy Position Limits and Hedge Exemptions
 
Location: CFTC Headquarters, Lobby-level Hearing Room 1155 21st Street, NWW, Washington, DC
 
Date:  Wednesday, August 5, 2009
 
Time:  9:00 a.m. EDT – 1:00 p.m. EDT
 
Viewing/Listening Information:
 
The CFTC has made available the following options to access the meeting:
 
1. Watch a live broadcast of the hearing via webcast on www.cftc.gov.
 
2. Call in to a toll-free telephone line to connect to a live audio feed.
 
Call-in participants should be prepared to provide their first name, last name, and affiliation. Conference call information is listed below:

Domestic/Canada Toll-Free: (888) 691-4252

International Toll: (404) 537-3379

The conference ID: 21425423

Call leader name: CFTC

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