Twelve airline CEOs are asking customers to pressure Congress to stop oil speculators from driving up the price of fuel. Some irony is delicious and some is just sad. This is sad.
I’m no friend of oil speculators, and I’m no enemy of the airlines. But I can’t forget that these are, by and large, the people who have fought tooth and nail against a passenger bill of rights. Now they want passengers’ help? To pass legislation?
Hey, airline CEOs, maybe we’ll sign a petition for you if you’ll sign one for us.
Meanwhile, economist Paul Krugman has made a convincing case in his New York Times column that speculation is not likely a major factor in fuel price increases.