ATA comments on passage of H.R. 6604.
Press Release Summary:
Air Transport Association is pleased that House passed H.R. 6604, a bipartisan bill which gives Commodity Futures Trading Commission authority to impose additional position limits on certain types of energy trades and provide greater transparency to energy market. ATA feels bill will close some loopholes that speculators have used to pour billions of dollars into energy markets and bring more transparency to commodities trading.
Original Press Release:
Air Transport Association Comments on Passage of H.R. 6604: Commodity Markets Transparency and Accountability Act
WASHINGTON, Sept. 18, 2008 - The Air Transport Association (ATA), the industry trade organization for the U.S. airlines, today commented on the passage of H.R. 6604, a bipartisan bill which gives the Commodity Futures Trading Commission (CFTC) the authority to impose additional position limits on certain types of energy trades and provide greater transparency to the energy market.
"We are pleased that the House passed H.R. 6604 - this will close some of the loopholes that speculators have used to pour billions of dollars into the energy markets and bring more transparency to commodities trading. We look to the Senate for their support in including strong speculation reform in their energy bill. A balanced energy policy that limits excessive speculation and increases supply is what this country so desperately needs."
ATA airline members and their affiliates transport more than 90 percent of all U.S. airline passenger and cargo traffic. For additional information about the industry, visit www.airlines.org.
CONTACT: David Castelveter
202-626-4033
