Airlines Ask Customers to Help Lower Oil Prices


	Airlines Ask Customers to Help Lower Oil Prices

Rebecca Ruiz

7-10-2008 4:29 PM

538 views

Rebecca Ruiz says:

There's ongoing debate over whether or not speculators are responsible for the price of oil, but the CEOs of several major airlines are not so uncertain. In a letter to their frequent fliers, they've asked customers to petition Congress to lower the price of oil by regulating speculation. Do you think this tactic will work? Is it a publicity stunt designed to make the airlines look sympathetic to nickel-and-dimed fliers? What do you think?

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a30e646d-2c40-4b7e-841b-827a779be838/E1C7CA2A-B661-4A12-81F0-669DDFB4F780/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://news.yahoo.com/s/ap_travel/20080709/ap_tr_ge/travel_brief_airlines_fuel" href="http://news.yahoo.com/s/ap_travel/20080709/ap_tr_ge/travel_brief_airlines_fuel" style="font-size: 11px;">news.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap_travel/20080709/ap_tr_ge/travel_brief_airlines_fuel">The chief executive officers of a dozen U.S. airlines, beset by record fuel costs that have caused several to cut jobs, reduce capacity and impose higher fees on customers, are now asking for their customers' help to curb the rise of oil prices.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap_travel/20080709/ap_tr_ge/travel_brief_airlines_fuel">They have co-signed a letter being sent to frequent fliers of their respective carriers, asking customers to contact Congress about the problem of market speculation, which they believe is driving up the price of oil.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap_travel/20080709/ap_tr_ge/travel_brief_airlines_fuel">The letter from the airlines acknowledges that oil prices are partly a response to normal market forces, prompting a need for the country to focus on increased energy supplies and conservation.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap_travel/20080709/ap_tr_ge/travel_brief_airlines_fuel">The letter says speculators buy up large amounts of oil and then sell it to each other again and again. 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, the letter says.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/E1C7CA2A-B661-4A12-81F0-669DDFB4F780/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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