anyone who talks about a 'fuel blip' is in a state of dellusion
no we are not.
Yes we have to wether the storm, but it is a storm, not a permanent new state of affairs. Anyone that thinks it is, is in a state of delusion!
all the arguments that people are advancing for permanently high oil prices, i've heard before, in 1987, in the 90's tech stock boom, in the recent cheap credit / leveraged investment / property boom. And guess what - they all corrected back to a sane level.
The higher these oil prices rise - the harder they will fall, just like any other investment product that is 'overbought'. Look at the oil price chart - forget all the emotion and bullpoo about 'oil' and politics and just view it as a financial instrument - now tell me that you think that trend is going to continue.
Yes we all need to make sure that we survive the immediate future. but as I said, making long term business plans on this oil price is a mistake - it won't last.
I think the more serious worry to our industry is the impending recession and huge reduction in consumer spending - THAT is a worry, as it is not a tempory abberation - the boom of the last decade was the abberation - this is a return to normality, although the pendulum will naturally swing the other way before stabalsing, and the 'good times' (yeah right!) of the last decade will not return.