Airlines ask travelers to push Congress on oil prices

July 10, 2008 02:27 PM E-mail| |Comments ()| Text size +

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Hardships make for strange bedfellows. In an unusual move, 12 US carriers - AirTran, Alaska, American, Continental, Delta, Hawaiian, JetBlue, Midwest, Northwest, Southwest, United and US Airways - are asking passengers to push Congress to rein in oil speculators.

In an open letter to customers signed by chief executives, the carriers note that 20 years ago, 21 percent of oil contracts were traded by speculators and now, with fuel prices surging, that figure is 66 percent, which adds an estimated $30 to $60 to the cost of each barrel of oil. That translates to increases of 22 percent to 44 percent, based on this morning's price of $137.85.

The letter directs you to a website called StopOilSpeculationNow where you can digitally sign a form e-mail to be sent to your representatives.

Strange and difficult times, these.
(By Paul S. Makishima, Globe staff)

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