I'll just start the first round of questioning here.

I hope today's hearing will begin to address that question.

Congress really directed in our statute that the CFTC set position limits--this was back in the 1930's.

Emissions contract markets operate no differently than other commodity markets that CFTC regulates.

Hopefully, our own Congress will not approve legislation that will have, may have the unfortunate, albeit unintended, consequence of shifting rice production to our foreign competitors because we can no longer compete.

Let me start by reiterating the urgency and importance of addressing global warming.

I leave you with where I started and, that is, my concerns again about speculation on derivatives and how that might artificially jack up the prices on these allowances and offsets and not in accordance with really what they should be…

I hope that you and the other Commissioners and your staffs will continue to monitor what is being done here.

The concentration of carbon dioxide in the atmosphere has increased by about 50 percent over the last 150 years.

I just want to make sure they just do not dump on your lap all this stuff without the resources that you would need.

Senator Thune is a very valued member of our Senate Agriculture Committee and, as I said, one of our leaders on biofuels.

I would like to thank the Chairman and the Committee and Senator Thune for their efforts to promote biomass collection.

We must continue to incentivize the installation of E-85 and blender pumps.

John and I have discussed that a lot in the Senate.

But the other thing is, and I want to pursue this a little bit because we just have got to put to rest this whole thing about food or fuel.

What we need are policies that make that happen faster today.

I am proud to be a co-sponsor of Senator Harkin's legislation that will expand the existing loan guarantee program.

Corn is always going to be the leader. It is always going to be out in front.