Help US fight skyrocketing oil prices

[Cardinal Joe]

Dear US Airways customer,

As you can read in the attached letter signed by 12 airline CEOs, US Airways and other carriers in partnership with the Air Transport Association (ATA) are joining a broad coalition of consumer and industry groups calling upon Congress to take swift action to reign in irresponsible oil speculators. We advocate putting common sense limits on unchecked oil speculation by paper traders who are running up the price, but do not intend to take possession of the oil they trade.

While the reasons for surging oil prices are complex, common sense tells us that escalating prices are more than a supply and demand issue. In the long term, we must reduce our dependence on foreign oil. The airline industry fully supports maximum efforts to increase domestic production of oil, alternative energy sources and conservation. But there is also a short term problem which has significantly impacted the price of oil.

While this is not the only solution, it is perhaps the quickest way to stop or reduce the rising price of oil. Without immediate oil speculation reform by Congress there will likely be additional service level reductions and higher airfares. We urge you to contact your representatives in Congress immediately.

Thank you for your support and business during this unprecedented time for our industry.

Take action now




--------------------------------------------------------------------------------



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 StopOilSpeculationNow.com.




Subscription Information
You have received this message because you subscribed to the "News and Offers" email at usairways.com. You may unsubscribe from this email. Allow up to five days for your name to be removed.

Cardinal Joe

[softcrab]

to lower oil prices is competition. Specifically to increase supply from competing sources.

President Bush removed the executive order banning offshore drilling and the price fell $16 over 3 days. If congress removed their ban it would fall further.

Each time we move to secure our own future and rely less on others the price will fall.

Nancy Pelosi will never allow a vote re offshore drilling in the House of Representatives. She controls the Democrats in Congress. She tells them how to vote. They don't vote their constituents interest. They vote her interest. She is powerful and her energy policies are causing tremendous pain.

[flatbottom]

this is a very interesting alignment. When the congress of the united states allows such outlandish stealing continue. We need to really consider who we vote for during the next congressional election. Also who to vote for this presidential election. I would really like to know why Pelosi fined the oil companies 18 billion dollars. Did she not think it would be passed to the consumer. This congress needs to be removed and jailed. Each and every one of them. Many people are in foreclosure. Be cause why????? Pelosi needs to step down. Pass the leader ship to some one with a brain.

[softcrab]

Originally Posted by flatbottom

this is a very interesting alignment. When the congress of the united states allows such outlandish stealing continue. We need to really consider who we vote for during the next congressional election. Also who to vote for this presidential election. I would really like to know why Pelosi fined the oil companies 18 billion dollars. Did she not think it would be passed to the consumer. This congress needs to be removed and jailed. Each and every one of them. Many people are in foreclosure. Be cause why????? Pelosi needs to step down. Pass the leader ship to some one with a brain.

may well be the most dangerous person in America.

[Cardinal Joe]

Originally Posted by flatbottom

this is a very interesting alignment. When the congress of the united states allows such outlandish stealing continue. We need to really consider who we vote for during the next congressional election. Also who to vote for this presidential election. I would really like to know why Pelosi fined the oil companies 18 billion dollars. Did she not think it would be passed to the consumer. This congress needs to be removed and jailed. Each and every one of them. Many people are in foreclosure. Be cause why????? Pelosi needs to step down. Pass the leader ship to some one with a brain.

Well - we all know how I feel about " Nancy Pelosi " !!!!!!!! Cardinal Joe