Im sure you dont need me to point out that Ryanair will be a long way down the list of Airlines that will go under due to the price of oil, this will mean more passengers and routes for Ryanair.
I agree with the first part but not the second. The higher oil price will mean a lot less people travel. This is due to the direct effect and people having less spare cash to fund their 3rd, 4th and 5th trip away each year.
I read spain is dropping its speed limit on motorways to 110kph from 120kph. This save 15% on fuel. I guess FR will do the same and add 5-10 minutes to sector lengths now fuel costs a lot more than staff.