24-Jun-2008 9:17 AM
Northwest CEO blames speculators for fuel cost rise; urges Congress to act
Analysis
San Francisco (Thomson Financial) - Northwest Airlines Chief Executive Doug Steenland told a congressional panel Monday that oil speculation poses a serious challenge to the airline industry, and urged legislators to increase regulation of commodities trading and help rein in skyrocketing fuel costs. "The price of jet fuel, which as you know is tied to the price of oil, is out of control," Steenland said in prepared remarks released by the airline.
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