Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Airport, Border and Port Safety and Security
Left Nav Sep
Bioterrorism
Left Nav Sep
Civil Aircraft
Left Nav Sep
Civil Airlines, Airports and Services
Left Nav Sep
Communications and Navigation
Left Nav Sep
Education, Training and Professional Services
Left Nav Sep
Manufacturing and Materials
Left Nav Sep
Military and Defence Facilities
Left Nav Sep
Military Aviation
Left Nav Sep
Military Vehicles
Left Nav Sep
Naval Systems
Left Nav Sep
Personal Equipment
Left Nav Sep
Software and IT Services
Left Nav Sep
Space and Satellite
Left Nav Sep
Weapons, Ammunition and Explosives
Left Nav Sep
View All
Other Carouselweb publications
Carousel Web
Defense File Logo
New Material Logo
Pro Health Service Zone
Pro Manufacturing Zone
Prosecurity Zone
Web Lec Logo
Pro Engineering Zone
 
 
 
News

ATA - Strategic Petroleum Reserve


Strict Standards: Only variables should be passed by reference in /home/defensef/public_html/components/com_zone/handleHTML.php on line 623
Air Transport Association Of America (ATA)
: 24 July, 2008  (Company News)
Air Transport Association Calls for a Staggered Release of the Strategic Petroleum Reserve
The Air Transport Association of America (ATA), the industry trade organization for the U.S. airlines, today testified before the House Select Committee on Energy Independence and Global Warming on the critical importance of tapping the Strategic Petroleum Reserve (SPR) to help bring immediate relief to consumers and businesses suffering from high fuel prices.



“ATA is calling for a release of 10 percent of the Strategic Petroleum Reserve, beginning immediately. History has shown that a temporary increase in supply will help lower prices,” said ATA President and CEO James C. May. “Oil prices are hurting our nation’s families and economy, and the industries that drive that economy.”



Due to limited refining capacity and surging global demand, jet fuel is costing as much as $30 per barrel more than gasoline and, through July 15, is averaging 71 percent more than in 2007. ATA projects that U.S. airlines will spend more than $61 billion on fuel in 2008, $20 billion more than in 2007, which is more than the combined fuel bill in the first four years of this decade.



May noted that many factors have led to triple-digit oil prices. ATA and its member airlines have long supported both short- and long-term solutions with three essential elements: increasing domestic supply, reining in unchecked speculation in the energy futures markets and a release from the SPR.



“The entire U.S. economy is being severely impacted by sky-high energy prices. A release of additional barrels into the market and swift legislation to curb oil speculation will bring down oil prices now,” said May. “A balanced, comprehensive national energy policy is the only kind that will bring the quick, meaningful and lasting relief this nation needs.”



May provided an outline for the SPR release, including:



· Follow an unannounced release schedule

· Release light, sweet crude oil first

· Restore U.S. commercial inventories, at a minimum, to previous year’s levels

· Dedicate revenues from the sale of SPR barrels to the development of alternative energy sources

· For Congress to set up a framework or trigger for continued use of the SPR when conditions warrant

Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   Â© 2012 DefenseFile.com
Netgains Logo