John Hemming's Web Log John's Reference Website
Thursday, May 22, 2008
  Oil breaks new price barriers
Crude oil rose to a record above $135 a barrel in New York after U.S. stockpiles unexpectedly dropped and a report said the IEA may lower supply forecasts.

The price will be likely to drop from time to time, but all the evidence is that we are now an a systematically constrained supply situation. This changes the market from primarily a buyers market to a sellers market.

Demand, therefore, does get reduced. The system everyone is going for at the moment is that where the weaker members of society suffer.

After a few more airlines have gone bust I don't think we will see any arguments about expansion of airports.

20th May Willie Walsh, British Airways’ CEO, has told journalists that he expects a string of bankruptcies and mergers in the commercial airline industry to make headlines this year.
 
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