Gas for $2.00 a Gallon in 30 days!

This morning I received an email from Northwest Airlines talking about how we can have Congress lower gas to $2.00 a gallon in 30 days. I have read articles from previous economists and saw 1 article on the Drudgereport that came from Bloomberg regarding this issue. I have not seen any media ever discuss it so I thought this did not have any merit.

Now I have received an email from Northwest Airlines to ALL their frequent flyer members about how we can demand Congress to change the system. Saudi Arabia has acknowledged that oil prices are higher than what they should be due to oil speculation. This speculation has increased because of the devaluation of the U.S. dollar. When inflation increases the speculators begin to buy more commodities such as Gold and Oil. Currently the price of crude oil is over 50 times more than what the current supply and demand should be which is at roughly $60 per barrel according to Saudia Arabia.

They have increased production and have met demands of the world consumption. However, because crude oil is a commodity and the U.S. dollar has decreased the speculators have driven up the price of the barrel which is affecting everyone. Congress can stop this by capping speculation of commodities to no more than 7 times the value of a commodity. This would apply to gold, oil, corn and many other commodities. In doing so the price of crude oil would decrease to $60 per barrel and gas prices would be at $2.00 per gallon which is what they should be.

To make a difference please go to www.StopOilSpeculationNow.com and fill out the easy form to email your senators and congressman. They have the power to cap the speculation markets and therefore restore gas prices to current supply and demand levels. Please tell everyone and we CAN make a difference.

Thank you!

Letter from Northwest Airlines:

Dear John Marino,
An Open letter to All Airline Customers:
Our country is facing a possible sharp economic downturn because of skyrocketing oil and fuel prices, but by pulling together, we can all do something to help now. Visit www.StopOilSpeculationNow.com.
For airlines, ultra-expensive fuel means thousands of lost jobs and severe reductions in air service to both large and small communities. To the broader economy, oil prices mean slower activity and widespread economic pain. This pain can be alleviated, and that is why we are taking the extraordinary step of writing this joint letter to our customers.
Since high oil prices are partly a response to normal market forces, the nation needs to focus on increased energy supplies and conservation. However, there is another side to this story because normal market forces are being dangerously amplified by poorly regulated market speculation.
Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery. Today, oil speculators purchase 66 percent of all oil futures contracts, and that reflects just the transactions that are known. Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab. Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs.
Over seventy years ago, Congress established regulations to control excessive, largely unchecked market speculation and manipulation. However, over the past two decades, these regulatory limits have been weakened or removed. We believe that restoring and enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight. Together, these reforms will help cool the over-heated oil market and permit the economy to prosper.
The nation needs to pull together to reform the oil markets and solve this growing problem. We need your help. Get more information and contact Congress by visiting www.StopOilSpeculationNow.com.
Robert Fornaro
Chairman, President and CEO
AirTran Airways

Bill Ayer
Chairman, President and CEO
Alaska Airlines, Inc.

Gerard J. Arpey
Chairman, President and CEO
American Airlines, Inc.

Lawrence W. Kellner
Chairman and CEO
Continental Airlines, Inc.

Richard Anderson
CEO
Delta Air Lines, Inc.

Mark B. Dunkerley
President and CEO
Hawaiian Airlines, Inc.

Dave Barger
CEO
JetBlue Airways Corporation

Timothy E. Hoeksema
Chairman, President and CEO
Midwest Airlines

Douglas M. Steenland
President and CEO
Northwest Airlines, Inc.

Gary Kelly
Chairman and CEO
Southwest Airlines Co.

Glenn F. Tilton
Chairman, President and CEO
United Airlines, Inc.

Douglas Parker
Chairman and CEO
US Airways Group, Inc.