By Edward McAllister NEW YORK (Reuters) – Consumer watchdog Public Citizen has called on U.S. regulators to conduct a review of Google Incs recent acquisition of aerospace startup Skybox Imaging, concerned that Skyboxs satellite technology may aid manipulation of commodity markets. In a letter to federal energy and trading regulators on Friday, Public Citizen said that access to Skyboxs satellite images of oil, gas and power infrastructure is already helping deep-pocketed firms such as banks and hedge funds gain a financial trading intelligence advantage in commodities. Commodity traders already subscribe to Skybox data which includes satellite imagery of oil shipments, pipeline activities and storage sites, Tyson Slocum, director of Public Citizen’s Energy Program, wrote in the letter addressed to the Federal Energy Regulatory Commission, the Commodities Futures Trading Commission and the Federal Trade Commission.
U.S. watchdog says Google’s Skybox deal raises commodity trade concern
25
Jun
2014
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