Airlines to Congress: Do something about oil

U.S. airlines are calling on Congress to take action as soaring oil prices push jet-fuel costs to levels that are pushing the industry toward financial ruin. Reuters writes that the industry today is expected to “call for urgent congressional action to stem what they believe is excessive speculative trading in oil markets. The focus on commodities trading is the industry’s strongest appeal to the government to address global prices, which have nearly doubled this year and have decimated industry balance sheets.”

USAToday