Groups target futures speculators in oil price increases
- July 17, 2008 |
- evans
Several industry campaigns hope to educate American consumers about the role that investors play in rapidly escalating fuel prices Big Oil has been sidelined as the villain of rising fuel pricesinvestment speculators are now in the spotlight. A coalition of trade groups is emphasizing the role that speculators in the futures markets play in driving up the global cost of fuel. The campaign has been dubbed S.O.SStop Oil Speculation Now. The Air Transport Association is the latest group to join the effort, launching its campaign in mid-July. The group says its airline company members will have to pay $61.2 billion this year in fuel costs, an increase from the $21.2 billion… Read More