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ACTE President speaks on Capitol Hill
Tuesday, May 27, 2008

The Association of Corporate Travel Executives (ACTE) president, Richard Crum, spoke on Capitol Hill in support of Energy Day. Hosted by the Consumer Energy Alliance (CEA), Energy Day gave Representatives and their staffs the opportunity to discuss the development of a U.S. energy policy, energy security and the impact of high energy prices with consumers, businesses, associations, manufacturers, agricultural organizations, transportation and energy providers.

Representatives in attendance at the event included Nick Lampson (D-TX), Heath Shuler (D-NC), Rob Bishop (D-GA), Ted Poe (R-TX) and Steve Pearce(R-NM). 

Crum told the audience that the growing price of oil and jet fuel was one of the greatest challenges faced by the travel industry, and predicted that the current energy crises would likely push some of the smaller carriers to shut their doors; six airlines have already done so in the last few months.

"Fuel surcharges have reached $130 a ticket, in some cases, costing more than the base price of the ticket itself," said Crum. "Every time the price of fuel increases the cost of a ticket by a dollar, a percentage of travelers opt not to fly."

Crum added that the trickledown effect was already being felt by hotels, resorts, business destinations, restaurants and rental car firms.

He then outlined three clear steps that ACTE suggests the U.S. government can take to reduce the cost and use of energy:

Added Crum, "We need to make significant changes now – changes in how we source and produce energy and changes in how we use it."

Commented Jim May, President, Air Transport Association, "As a country, we need to produce energy of all kinds, conserve more, and invest in research and development as well as new technologies. We need to build a comprehensive energy portfolio."

CEA is a non-profit, non-partisan organization committed to supporting the thoughtful utilization and development of all domestic energy resources to help ensure domestic energy security and reduce prices for consumers.

Participants in CEA Energy Day included ACTE, ATA, American Trucking Association, National Small Business Association, American Petroleum Institute, Nuclear Energy Institute and Green Earth Biofuels, among others.

Theodore Koumelis - Tuesday, May 27, 2008
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Poll
How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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