See #19 for detailed reasons why raising margins won’t have any effect except curtailment of liquidity at NYMEX. No other effect in this world.
While I agree enforcement of existing laws and modifications of other regs need to be done as well (something I doubt we’ll honestly see sadly). I don’t agree wholey that the money will all move to different markets. Surely some will, but if you raise the capital gain rate on such trades as well, guess what? Doesn’t matter where you made your profits, you are US based, you pay the tax... which is why the need is for raising of margin as well as increased capital gains rate on energy trades.