On May 6, Sen. Russ Feingold (D-WI) announced that the farm bill will include legislation providing oversight of energy markets. Feingold was the sponsor of an effort led by Sens. Dianne Feinstein (D-CA), Carl Levin (D-MI) and Olympia Snowe (R-ME) which would ensure federal oversight of the electronic trading of oil and gas. The language will close a loophole, often referred to as the "Enron loophole" which has allowed oil and gas trader to make electronic trades without federal oversight. This lack of oversight has led to price distortions. The legislation would put in protections for "over-the-counter" markets. After months of negotiation, the House-Senate conference committee announced on May 8 it had reached a final deal on the bill; however, President Bush has threatened to veto the compromise agreement.