Funny quote from today’s local paper:
McGhee Tyson Airport representatives Wednesday expressed concern over a report that Independence Air may be facing bankruptcy, while noting that all airlines are facing financial difficulties because of hefty oil prices.
. . .
“We have no way we can do anything about the price of oil,” said Danni Varlan, coordinator of East Tennesseans for Airfare Competition, a nonprofit group formed to recruit a low-fare carrier to the area.
I’d been wondering why people kept taking about weird things like OPEC and supply/demand when discussing the price of oil. Here I had thought that ETAC controlled the price of oil. I’m glad this mystery has finally been cleared up.
A wee bit snarky this AM??
And I have been wondering why the price of oil has gone way up myself. I had been under the (mistaken) impression that George Bush’s grand plan to keep oil prices down was to “jawbone” OPEC….
Too bad no one told him that “opening up the spigots” was only one half of the price equation, the other half being controlling demand.
Exactly. As long as Asia keeps growing as it has been, oil prices will continue to head up. Supply can’t keep up with demand.