Help Fight High Oil & Gas Prices

Ryan from Ohio · Post by **Ryan from Ohio** » Thu Jul 10, 2008 7:00 am

I urge everyone to please visit the site and fire off the emails!
http://www.stopoilspeculationnow.com/sos

An Open Letter to All Airline Customers
Our country is facing a possible sharp economic downturn because of skyrocketing oil and fuel prices, but by pulling together, we can all do something to help now.
For airlines, ultra-expensive fuel means thousands of lost jobs and severe reductions in air service to both large and small communities. To the broader economy, oil prices mean slower activity and widespread economic pain. This pain can be alleviated, and that is why we are taking the extraordinary step of writing this joint letter to our customers.
Since high oil prices are partly a response to normal market forces, the nation needs to focus on increased energy supplies and conservation. However, there is another side to this story because normal market forces are being dangerously amplified by poorly regulated market speculation.
Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery. Today, oil speculators purchase 66 percent of all oil futures contracts, and that reflects just the transactions that are known.
Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab. Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs.

Over seventy years ago, Congress established regulations to control excessive, largely unchecked market speculation and manipulation. However, over the past two decades, these regulatory limits have been weakened or removed. We believe that restoring and enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight. Together, these reforms will help cool the over-heated oil market and permit the economy to prosper.
The nation needs to pull together to reform the oil markets and solve this growing problem.
We need your help. Get more information and contact Congress by visiting
http://www.StopOilSpeculationNow.com/sos.
Sincerely,
Robert Fornaro
Chairman, President and CEO
AirTran Airways, Inc.
Bill Ayer
Chairman, President and CEO
Alaska Airlines, Inc.
Gerard J. Arpey
Chairman, President and CEO
American Airlines, Inc.
Lawrence W. Kellner
Chairman and CEO
Continental Airlines, Inc.
Richard Anderson
CEO
Delta Air Lines, Inc.
Mark B. Dunkerley
President and CEO
Hawaiian Airlines, Inc.
Dave Barger
CEO
JetBlue Airways Corporation
Timothy E. Hoeksema
Chairman, President and CEO
Midwest Airlines
Douglas M. Steenland
President and CEO
Northwest Airlines, Inc.
Gary Kelly
Chairman and CEO
Southwest Airlines Co.
Glenn F. Tilton
Chairman, President and CEO
United Airlines, Inc.
Douglas Parker
Chairman and CEO
US Airways Group, Inc.

OnYrMrk · Post by **OnYrMrk** » Thu Jul 10, 2008 7:11 am

I thought you weren't allowing spam anymore

Ryan from Ohio · Post by **Ryan from Ohio** » Thu Jul 10, 2008 7:28 am

I dont consider it spam by any means.

Dont you have a travel business? Hows that doing? Would be better if people could afford to travel, right?

kevinberry1 · Post by **kevinberry1** » Thu Jul 10, 2008 8:10 am

The US economy is in a terrible situation due to 3 decades of failed foreign policy based on self-interest of politicians and not the good of the nation or world. Unfortunately the 'free market' in the US isn't free at all. Politicians from both political parties help regulate as they see fit to benefit their contributors and not the nation as a whole.

Much of the changes we have experienced recently can be attributed to deregulation with the Republican-controlled congress and presidency for six years. One example: the elimination and reduction of anti-trust regulation allowed the oil companies to merge into huge monopolies and reap billions in profits due to lack of competition. The refining capacity of our nation is extremely limited and having 3 companies controll it prevents any competition. Hardly a free market...

Although Democrats are equally guilty of passing benefits to contributors rather than the nation; the manipulation would just shift to a different sector, say unions or the insurance industry for example. With the state of politics in our nation I don't expect much to change no matter who is elected president or to congress. The pool we have to choose from is tainted... by corporate greed and self-serving elected officials.

Bwcad1 · Post by **Bwcad1** » Thu Jul 10, 2008 9:58 am

OnYrMrk · Post by **OnYrMrk** » Thu Jul 10, 2008 2:26 pm

Yea, I have seen a huge decline in travel orders due to the higher prices of travel rightnow.

and I was being facetious.

Bwcad1 · Post by **Bwcad1** » Thu Jul 10, 2008 6:14 pm

I think anyone who reads this really needs to do there research on both sides. i hate when people post one sided arguments. also where are the citations that show this to be legit?