Mike who knows where the oil price will end up
All i know is that it is a function of supply and demand and right now because of the slowing economy the world does not need much oil hence this is reflected in the price. When all this mess is sorted out and we start recovering the oil price will increase.
Meanwhile in a galaxy far far away.....
Airline industry faces 'year of hell'
The airline industry is facing a “year of hell” that could be worse than the downturn after the attacks of 9/11, the industry warned.
Mike Ambrose, the director general of the European Regional Airlines (ERA), which represents 79 airlines, said he expected the number of carriers around the world declaring bankruptcy to double to at least 70 this year.
“We are now up to around 35 this year,” Mr Ambrose said. “I see at least that number over the winter.”
Numerous carriers have already been grounded because of a combination of high fuel costs and falling passenger demand. XL, the travel company, was declared bankrupt last month stranding 80,000 passengers and other carriers such as Zoom, Silverjet and Oasis have also been forced to close.
Airline industry faces 'year of hell' - Times Online
