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FeedRank: 5/10  5/10  Good  ---  techdailydose.nationaljournal.com
National Journal's portal to politics and policy online ...

 

 
Tuesday, July 15, 2008 --- 36 days ago
About a dozen airlines have started using their expansive frequent flier databases for more than special offers on weekend getaways. The companies, including American Airlines, Delta, Northwest, United, and US Airways, are sending waves of e-mails to customers urging them to press Congress to pass legislation that would limit what they believe is rampant oil speculation. The airlines are part of a broader business, labor and consumer coalition that launched the Web site StopOilSpeculationNow.com to fight the high cost of fuel. The companies' e-mail campaign launched last week and hundreds of thousands of letters have already been sent by airline customers to Capitol Hill. For past the two weeks, Northwest and Delta employees alone have also sent more than 20,000 messages to congressional leaders. The e-mail states that crude oil recently hit a high of $146 and the climbing fuel cost is impacting customers, employees and the economy. Two decades ago, 21 percent of oil contracts were purchased by speculators and today they purchase 66 percent of all oil futures contracts, the letter states. Over time, regulatory limits have been weakened or removed and "enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight," the e-mail said. ...




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