Monday, February 9, 2009

airlines have gotten together


So the airlines have gotten together to Stop Oil Speculation (SOS). How do I know? Both Northwest Airlines and United Airlines sent me an e-mail with an open letter signed by twelve airlines. They must be serious about this. I have made my thoughts on speculation and manipulation known here and here, and the airlines’ arguments are not changing my mind.The language used on the SOS web site sounds more like “here’s why you should pay me $15 per checked bag and not complain about it even though I did not hedge my fuel costs appropriately” or "when I asked for deregulation I didn't really mean it," rather than a legitimate complaint. The airlines claim, “Every time you buy products such as food or gas, you are impacted by unregulated, secretive and often foreign commodities futures markets.” They even dropped in an "Enron" reference later, just to make sure you know the markets are evil. This letter is precursor to a request for another bailout if you ask me.

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