Airlines go to Capitol Hill to support derivatives regulation

The Senate Agriculture Committee will vote this week on a controversial plan to regulate derivatives trading, and industries that are end users of regulated commodities went to Capitol Hill on Tuesday to express their support. "In 2008, we burned the same amount of fuel we burned in 2003, but we paid $42 billion more," said James May, president and CEO of the Air Transport Association, which supports the strong measures proposed by Sen. Blanche Lincoln, D-Ark., who chairs the Agriculture Committee. AirTran Airways' CEO Robert Fornaro yesterday said the "rampant and unregulated speculation in commodities" had created a "casino-like atmosphere for the end user."

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