On February 22, 2011, Michael Bardee, General Counsel for FERC, submitted comments in response to the Commodity Futures Trading Commission’s  (“CFTC”) Notice of Proposed Rulemaking  (“NOPR”) on the elective exception to mandatory clearing for swaps under the Commodity Exchange Act (“CEA”). 

On February 14, 2011, the Commission submitted their Fiscal Year (“FY”) 2012 Budget Request for $304,600,000.  The budget request represents a 2.8 percent increase over the 2010 actualized numbers, and that amount equals $8,303,000.  The oil industry is the one industry to show a decrease in the Commission budget allotment, and it dropped by 0.6 percent or $7,656,000 for FY 2012.