Dan Webb

I just found a slightly-old story from the Houston Chronicle about the ATA’s crusade against oil speculation and Southwest’s hedging:

Of all the airlines, though, Southwest could be affected the most if Congress changes the ATA’s cautious wording about related commodities.

…

Given his familiarity with commodity markets, I asked Topping [Scott Topping, Southwest's treasurer who is in charge of the hedging program] if he believes that speculators were inflating oil prices.

“That’s what I have a hard time getting my arms around,” he said. “Speculators bring information to the markets. Clearly, the supply of oil is struggling to grow, and demand is continuing. In that environment, higher prices are a result.”

That sounds like a “no” to me.

Very interesting to say the least. I always wondered why Southwest signed the letter to travelers. Industry unity (or something like that), I guess.