Bill > S1420

This bill, the Energy Markets Act of 2015, aims to increase transparency and understanding of energy markets by directing the Energy Information Administration (EIA), in cooperation with the Commodity Futures Trade Commission (CFTC), to collect information on oil inventories and physical oil assets owned by the top 50 oil contract traders, including those involving derivative contracts (financial instruments whose value is derived from an underlying asset like oil). The EIA will also annually gather data on the United States' commercial storage capacity for oil and natural gas. To analyze the financial aspects of these markets, a new Financial Market Analysis Office will be established within the EIA. Furthermore, a Working Group on Energy Markets will be created, composed of various government officials including the Secretaries of Energy and Treasury, and the heads of the Federal Energy Regulatory Commission, Federal Trade Commission, Securities and Exchange Commission, CFTC, and EIA. This Working Group will investigate how increased financial investment in energy commodities affects prices and U.S. energy security, recommend laws to prevent excessive speculation that could harm consumers and the economy, and review the energy security implications of international market developments. The Working Group will also study the factors influencing crude oil and refined petroleum product prices and assess existing and potential new government authorities for regulating energy markets crucial to U.S. energy security.