robbedagain
Veteran
- Oct 13, 2003
- 11,125
- 2,676
With oil topped out yesterday at 76.70 a barrel, and today hitting at around 80, how will this affect the new US and the other airlines, even with the hedging in place?
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
All the same naysayers after Katrina last summer are back again beating the "$100/barrel by the end of the summer" drum. What would THAT do to LCC's model? What would it do to the airlines currently in BK?
CNBC reports oil closed today at $78 a barrel.
This is highly inflationary. Perhaps the feds won't raise rates, but the market is plumeting.
There is an anticipation on wall street that oil price per barrel will rise to $85 a barrel sooner rather than later if the crisis in the middle east does not come to some quick resolution.
On a personal level, folks need to stop spending and conserve their funds for necessities only. Quit the credit card charging, drive conservatively and only for necessities. Put off major purchases and remodeling that envolves leaning your house.
Its going to get ugly and for a long time.
Maybe folks will FINALLY start getting rid of their unnecessary SUV's and HUGE trucks that get 13 MPG. Imagine if everyone just drove a sedan that got 20-25 MPG .... price of fuel would drop quickly since the demand would dry up.
I thought I read an article that US was hedged at 80% ????????????