Airlines Band Together To Stop Oil Speculation

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caps1237
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Airlines Band Together To Stop Oil Speculation

Post by caps1237 » 10 Jul 2008, 05:19

I got this from Delta tonight:
AN OPEN LETTER
TO ALL AIRLINE CUSTOMERS
From 12 Airline CEOs.

Hello Mr. Plave,
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" onclick="window.open(this.href);return false;.

And then there's the signatures of:
Richard Anderson, Gerard J. Arpey, Bill Ayer, Dave Barger, Mark B. Dunkerley, Robert Fornaro, Timothy E. Hoeksema, Lawrence W. Kellner, Gary Kelly, Douglas Parker, Douglas M. Steenland, and Glenn F. Tilton.

It's good to see the airlines getting together and trying to get something done positively.
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Re: Airlines Band Together To Stop Oil Speculation

Post by NWADC9 » 10 Jul 2008, 06:22

caps1237 wrote:Gerard J. Arpey, Bill Ayer, Dave Barger, Mark B. Dunkerley, Robert Fornaro, Timothy E. Hoeksema, ... and Glenn F. Tilton.
Who're these guys?
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Re: Airlines Band Together To Stop Oil Speculation

Post by frogdude4993 » 10 Jul 2008, 06:27

NWADC9 wrote:
caps1237 wrote:Gerard J. Arpey, Bill Ayer, Dave Barger, Mark B. Dunkerley, Robert Fornaro, Timothy E. Hoeksema, ... and Glenn F. Tilton.
Who're these guys?
CEO's of airlines I think...
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Re: Airlines Band Together To Stop Oil Speculation

Post by NWADC9 » 10 Jul 2008, 07:26

frogdude4993 wrote:
NWADC9 wrote:
caps1237 wrote:Gerard J. Arpey, Bill Ayer, Dave Barger, Mark B. Dunkerley, Robert Fornaro, Timothy E. Hoeksema, ... and Glenn F. Tilton.
Who're these guys?
CEO's of airlines I think...
I know that... :roll:

WHICH AIRLINES are they CEO's of? :wink:
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Re: Airlines Band Together To Stop Oil Speculation

Post by seahawks7757 » 10 Jul 2008, 08:52

I can tell you Bill Ayer is Alaska's CEO
And that Mark B. Dunkerley is Hawaiian's CEO.
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Re: Airlines Band Together To Stop Oil Speculation

Post by Anuj » 10 Jul 2008, 11:23

Gerard J. Arpey is American Airline's CEO
Dave Barger is JetBlue's CEO
Robert Fornaro is AirTran's CEO
Timothy E. Hoeksema is Midwest Airline's CEO
Glenn F. Tilton is United Airline's CEO
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Re: Airlines Band Together To Stop Oil Speculation

Post by Aaron Robinson » 10 Jul 2008, 14:29

NWADC9 wrote:
caps1237 wrote:Gerard J. Arpey, Bill Ayer, Dave Barger, Mark B. Dunkerley, Robert Fornaro, Timothy E. Hoeksema, ... and Glenn F. Tilton.
Who're these guys?
Anuj wrote:Gerard J. Arpey is American Airline's CEO
Dave Barger is JetBlue's CEO
Robert Fornaro is AirTran's CEO
Timothy E. Hoeksema is Midwest Airline's CEO
Glenn F. Tilton is United Airline's CEO
Wonderful that an Indian is telling this to an American...

Chris, what airlines do Naresh Goyal and Vijay Mallya head?
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Re: Airlines Band Together To Stop Oil Speculation

Post by Dennis » 10 Jul 2008, 14:35

I know, but since the question is for Chris... :roll:
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Re: Airlines Band Together To Stop Oil Speculation

Post by frogdude4993 » 10 Jul 2008, 14:39

Dennis wrote:I know, but since the question is for Chris... :roll:
I know too. :smokin:
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Re: Airlines Band Together To Stop Oil Speculation

Post by NWADC9 » 10 Jul 2008, 20:03

Aaron Robinson wrote:Chris, what airlines do Naresh Goyal and Vijay Mallya head?
Jet Airways and Kingfisher respectively
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Re: Airlines Band Together To Stop Oil Speculation

Post by caps1237 » 10 Jul 2008, 20:23

Wow, Chris doesn't know a couple of airline CEOs. The world may come to a grinding halt! :roll:
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Re: Airlines Band Together To Stop Oil Speculation

Post by jmmen » 10 Jul 2008, 21:17

And Lawrence W. Kellner isn´t for Continental?

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Re: Airlines Band Together To Stop Oil Speculation

Post by frogdude4993 » 10 Jul 2008, 23:01

caps1237 wrote:Wow, Chris doesn't know a couple of airline CEOs. The world may come to a grinding halt! :roll:
It took me 10 seconds to google them...

I cheated :wink:
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Re: Airlines Band Together To Stop Oil Speculation

Post by Northwestdc9 » 10 Jul 2008, 23:13

frogdude4993 wrote:
caps1237 wrote:Wow, Chris doesn't know a couple of airline CEOs. The world may come to a grinding halt! :roll:
It took me 10 seconds to google them...

I cheated :wink:
I knew the US based ones, I didn't know Naresh Goyal and I thought Vijay was with Jet Airways but I got that one backwards.
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Re: Airlines Band Together To Stop Oil Speculation

Post by NWADC9 » 11 Jul 2008, 00:38

caps1237 wrote:Wow, Chris doesn't know a couple of airline CEOs. The world may come to a grinding halt! :roll:
Exactly what I'm thinking... :roll:

Lay off, guys.
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Re: Airlines Band Together To Stop Oil Speculation

Post by THA346 » 11 Jul 2008, 03:16

Montie Brewer for Air Canada
Christopher Dale Pratt for Cathay Pacific
James Hogan for Etihad Airways (ETD)
Apinant Sumanaseni for Thai
Chew Choon Seng for Singapore Airlines
Idris Jala for Malaysia Airlines
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Re: Airlines Band Together To Stop Oil Speculation

Post by Aaron Robinson » 11 Jul 2008, 03:25

THA346 wrote:Montie Brewer for Air Canada
Christopher Dale Pratt for Cathay Pacific
Air Canada should properly be identified with Brewer and Robert Milton.
Pratt is Chairman, and is a longtime Swire executive. Tony Tyler, the CEO, is the one properly associated with leading the company.
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Re: Airlines Band Together To Stop Oil Speculation

Post by THA346 » 11 Jul 2008, 03:36

Robert Milton is properly identified with leading the mother company and owner of Air Canada, ACE Aviation Holdings, but not Air Canada proper.

And Haruka Nishimatsu for Japan Airlines, along with Li Fenghua for China Eastern.
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Re: Airlines Band Together To Stop Oil Speculation

Post by Aaron Robinson » 11 Jul 2008, 03:45

Ah, but Milton was Brewer's predecessor before moving upstairs. I'd argue he is still very much involved with Air Canada itself.
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Post by Jimmyp4 » 11 Jul 2008, 04:26

WOW, looks like these airlines are starting an aliance..
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