I normally wouldnt post internal stuff but since this effects us all we should all do this.
Last week, I testified before Congress on behalf of the airline industry – urging them to take immediate action to reduce the high cost of oil.
Now, I am asking you to join me, and a wide coalition of airlines (including the Delta employees) in urging Congress to act quickly.
We have launched an employee grassroots campaign to contact U.S. Senators and Representatives. We are asking Members of Congress to support legislation that will provide for more disclosure, transparency and market oversight, including closing loopholes that currently allow excessive speculation in the oil trading markets. We are also asking Congress to focus on improved domestic oil supplies, conservation and alternative energy sources.
This is a critical issue – the viability of the airline industry, and America’s economy, are both at risk.
The Problem
The price of oil topped $140 a barrel on Friday with no let up in sight. The underlying causes of these increases are many, but one that has been identified is uncontrolled speculation by commodity and other traders in oil futures. Current law has loopholes that have allowed this run-away speculation in the oil trading markets. According to some experts, rampant speculation driving up oil prices by as much as $20 to $60 a barrel.
For airlines and most every industry dependent upon fuel, this run-up is having a crippling impact on our ability to achieve sustained profitability. Continued, unprecedented fuel costs are causing considerable financial stress to our business with the price of fuel having nearly doubled in the last year. Individually, we are all also feeling the pain at the gas pump and in our energy bills.
The Solution
The U.S. Congress is now considering important legislation to curb this speculation and close these loopholes. The following bills were recently introduced in the House and Senate:
H.R. 6330: Prevent Unfair Manipulation of Prices Act of 2008
To provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes.
S 3122: Policing United States Oil Commodities Markets Act of 2008
A bill to amend the Commodity Exchange Act to provide for the regulation of oil commodities markets, and for other purposes
S 3183:
A bill to amend the Commodity Exchange Act to provide oil and gas price relief by requiring the Commodity Futures Trading Commission to take action to end excessive speculation, and for other purposes.
How You Can Help
Northwest employees can visit the new website created for this letter writing campaign. Employees should sign in to RADAR to access a link to the special, employee-only web site – fuel.newglobalairline.com - in the Merger Updates section. Since we announced this campaign in the recent Monday Merger Update, more than 4,000 e-mails have been sent in to lawmakers - showing that Delta and Northwest employees recognize how critical the cost of fuel is to our business.
You can also encourage your families and friends to help as well by going to the web site to call and send emails to their members of Congress. A direct link to CapWiz
http://***********/delta/home/
http:// capwiz . com / delta / home <<<<
COMBINE IT
has also been created to help facilitate getting your family and friends to participate. All active and retired employees are encouraged to participate.
The skyrocketing cost of fuel is an issue that affects everyone at work and at home. Thanks in advance for your help. Together, I believe we can get the message to Congress that our industry -- and America’s economy -- are both in jeopardy. Please join me in asking Congress to act today.