Let's do more than shout into the dark

Here is a copy of a letter that was drafted by an alliance of Airlines and sent out to their customers. What impresses me with this letter is not that it comes form a coalition of 38 airlines - which is really significant in and of itself - but that it speaks directly to the collusion between the Congress and the Oil Industry and just how powerful the oil lobby really is.

Now, how have I reached that conclusion just from this letter's existence? I admit that my conclusion is based on me reading between the lines, but try this out. If you follow the Link provided to the right or the one below, you can see the names of these 38 airlines. Individually these are some really big companies, collectively they represent billions of dollars and many thousands of people. Still, this coalition is exhorting folks like you and I to get involved and to force our elected officials to do the right thing.

It's crystal clear - in spite of all the power and influence these 38 companies have, they can't get Washington to get out of bed with oil industry. In the end the thing that politicians fear more than anything is when voters rally around a central point; these airline companies know this; the question is, do we? So, become an activist - contact your elected officials and tell them to end futures trading in energy. Send a link to this Blog Spot out to as many people as you can - let's see if we can make a difference. I've placed a "hit counter on the blog to see if I'm just "shouting into the dark".


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/