• Home
• About Amy
• Serving Minnesotans
• About Minnesota
• Issues/ Legislation
• Media Center
• Contact Amy
• FAQ

News Releases

Klobuchar Calls for Immediate Action on Energy Speculation and Fuel Prices

Airline representative says 1 million airline passengers have sent messages to Congress supporting Congressional action on speculation

July 15, 2008

Washington, D.C. – At a hearing to examine the state of the airline industry today, U.S. Senator Amy Klobuchar said that air carriers and their passengers can play an important role in bringing about market reforms to curb speculation in world energy markets and bring down high fuel costs that are hurting consumers and the economy.

Under questioning from Klobuchar, an industry spokesman noted that 1 million airline passengers already have sent messages supporting Congressional action to crack down on excessive and unregulated speculation in oil and gas markets. James May, president of the Air Transport Association, said skyrocketing fuel costs have forced airlines to park airplanes and cut back on flights, inconveniencing travelers. Witnesses have told Congress in recent months that market speculation is a key force behind the recent run-up in oil costs.

“This is where the rubber meets the runway for our consumers and for our businesses. High fuel prices are taking a chunk out of the bottom line for business and squeezing the checkbooks of families, and we need to give them relief,’’ Klobuchar said. “The airline industry provides thousands of good jobs in Minnesota and across the country. This is one more example of the way that runaway fuel costs are choking our economy and gouging consumers.’’

Klobuchar is a cosponsor of legislation to crack down on speculation in energy markets by expanding the authority of the Commodity Futures Trading Commission and banning energy trades placed in offshore exchanges to avoid U.S. regulation.

Addressing the issue of airport delays, witnesses said Tuesday that the reduction in commercial flights may have the effect of slightly reducing airport congestion this summer. But it can also worsen delays for passengers who miss their connections due to weather and other delays because there are fewer alternate flights and empty seats for stranded travelers.

Klobuchar also supports legislation to modernize the Federal Aviation Administration through “next generation’’ air traffic control technology that would reduce delays and improve airline safety.


###