Teamsters Commend Senate for Moving on High Fuel Costs

    Hoffa Urges Swift Action on Curbing Energy Speculators



    WASHINGTON, July 16 /EMWNews/ -- The Teamsters on

Wednesday applauded the Senate leadership for moving forward on legislation

to crack down on greedy oil speculators.



    Senate Majority Leader Harry Reid, D-Nev., sponsored the Stop Excessive

Speculation Act, which limits the unrestrained speculation that contributes

to rising fuel prices.



    "These fuel prices are a disaster for Teamsters and their families,"

said Teamsters General President Jim Hoffa. "People are feeling the bite

every time they fill their gas tank or buy groceries. Their employers are

struggling to cope with these high costs, whether they're delivery

companies, freight haulers, school districts or airlines.



    "I'm grateful that Sen. Reid understands how badly American workers are

hurting, and that he's doing something about it before Congress goes to

recess," Hoffa said.



    Teamsters Airline Division Director Capt. David Bourne said airline

workers are particularly hard hit by the high cost of oil.



    "Airlines will simply shut down if oil were to stay above $140 a

barrel," Bourne said. "We have 40,000 airline and aviation employees, and

they're worried about their jobs."



    The bill, S.3268, brings common-sense regulation to the unregulated

energy futures market.



    It would make the over-the-counter markets subject to transparency

requirements and make sure that no one can control the market.



    The bill was also sponsored by Sen. Richard Durbin, D-Ill., Patty

Murray, D-Wash., and Byron Dorgan, D-N.D.



    Founded in 1903, the Teamsters represent 1.4 million hardworking men

and women in the United States, Canada and Puerto Rico.