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LaRouche Calls for Emergency
Reregulation in Transport and Oil

Sept. 27, 2004 (EIRNS)—This release was issued today by the LaRouche PAC political action committee.

Lyndon LaRouche, the former candidate for the 2004 Democratic Party Presidential nomination and the world's leading political economist, has issued a call for the U.S. government to immediately reregulate two vital sectors of the economy: the transporation sector, particularly the commercial airline industry; and the global oil market.

Informed of the latest moves by U.S. Airways to win bankruptcy court approval for an additional 23-percent across-the-board employee pay cut, LaRouche noted that the entire airline industry, and the transportation sector of the U.S. economy as a whole, are in a state of total collapse. No government of a modern nation, particularly a leading power like the United States, can sit back and allow the entire transportation grid to be shut down. Nothing short of a full-scale re-regulation of the transport sector, following a top-down bankruptcy reorganization, is appropriate.

On the issue of the global oil market, LaRouche reiterated his call, made earlier this year, for the re-regulation of oil prices, through bilateral and multilateral long-term contract arrangements, setting a band price per barrel of approximately $25. Such a price would allow sufficient investment in new exploration, infrastructure improvement, expanded refinery capacity, etc.—while removing the speculative factor, and the continued looting of the world's physical economy to feed a nested series of financial bubbles that are doomed to explode soon.

LaRouche has endorsed John Kerry for President, and is agressively organizing for a landslide defeat of Bush-Cheney. Nevertheless, LaRouche insists that these re-regulation moves cannot wait until a new administration is in place. These are emergency measures that must be taken now—before it is too late.