Thread started: Jul 11 2008, 1:07 PM EDT
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CEOs of a dozen airlines are asking their frequent flyers to help lobby Congress for new restrictions on oil speculators, which the airlines see as the primary cause of skyrocketing fuel prices (see this week’s story). Do you agree that limits on oil speculation will bring down the price of fuel? If that happens, do you think airlines will reduce fares? Will you help the airlines by sending an email to Congress? Post your comments here.
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RE: Wil you help airlines rein in oil speculators?
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AnonymousJul 21 2008, 10:57 AM EDT
No! The whole premise is ridiculous. Speculators are seeing that there is a potential shortage in the future because of supply and demand. The way to cure the high cost of oil is to get more oil onto the market. This means more drilling and production. If speculators see more oil coming onto the market in the future they will speculate the oil price right back down. Government restrictions on markets never works and frequently has unintended consequences. What government should do is get the hell out of the way and let our domestic oil resources get developed.
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