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The Peak Oil Crisis: The Half-Life For Air Travel (5 posts)

  1. truthmod
    Administrator

    http://www.fcnp.com/national_commentary/the_peak_o...

    In recent weeks, airlines around the world have been reporting substantial losses, declaring bankruptcy or completely shutting down. So far the losses have been mostly of small airlines, but many of the large ones have started to thrash around for merger partners. At $3.71 a gallon, jet fuel is now the single largest expense an airline faces.

    In 2000, the airlines fuel bill was $14 billion. It is now pushing $60 billion and climbing. Southwest, the most profitable carrier, recently announced that this year’s fuel bill will be $500 million more than last year and equal to 2007 profits. During the first quarter of 2008 American airlines lost $328 million; Delta lost $274 million; United lost $537 million; Continental $80 million; Northwest $191 million; and US Airways $236 million. Only Southwest Airlines, which did a better job of hedging its fuel than the others, made a profit.

    It is clear we are going to see major changes in air travel shortly.

    Posted 16 years ago #
  2. JennySparks
    Member

    I was wondering when air travel was going to be affected. Petrol in cars sneaks up on you in dribs and drabs. But airlines--they have to load those birds up every day. Some bean counter is watching that like a hawk.

    Posted 16 years ago #
  3. truthmod
    Administrator

    Tom Whipple continues his PO series:

    The Peak Oil Crisis: Transiting to Transit
    http://www.fcnp.com/national_commentary/the_peak_o...

    With crude oil now above $120 a barrel and threatening to go higher, it is clear that our preferred and convenient means of going places, our car, the airplane and the rental car soon are going to be parked because they will be too expensive to operate.

    Five dollar gasoline may be enough to force some people to give up steady use of their personal cars and seek other solutions. For others, the quitting price may be ten or twenty dollars per gallon and for the very wealthy even $100 a gallon gasoline ($80 or $100 thousand a year) would be an acceptable price to pay for the convenience of the private car.

    Local governments are going to have to deal with the transportation problem or be faced with massive social issues as people become isolated from places of employment. A large decline in personal mobility is likely to result in considerable economic hardship and job losses as much discretionary travel will simply stop due to excessive costs or the inconvenience of other arrangements.

    Posted 16 years ago #
  4. chrisc
    Member

    the quitting price may be ten or twenty dollars per gallon and for the very wealthy even $100 a gallon gasoline

    $1,000 a barrel predicted by 2021: http://anz.theoildrum.com/node/3947

    Posted 16 years ago #
  5. truthmod
    Administrator

    http://www.fcnp.com/index.php?option=com_content&#...

    The Peak Oil Crisis: Summer's End
    Written by Tom Whipple
    Thursday, 28 August 2008

    While waiting to see how much damage this week's hurricane will do, it is a good time to review recent developments in the world's petroleum and economic situations for their relevance to peak oil.

    Should it look as if the current hurricane is going to tear up the Gulf oil fields and the coastal refineries, it might not be a bad time to go out and fill your tank for U.S. gasoline stocks are unusually low. Any supply or refining disruptions in the next week or so have a good chance of resulting in spot shortages of gasoline.

    Posted 16 years ago #

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