Originally Posted by
MiamiAirport Formerly NY George
Not while the industry is struggling to stay alive. Not to mention me thinks the price of oil (jet fuel) will be spiking as domestic production is forced to shut down. Another ulcer to contend with for airline senior management. It would not surprise me that Parker would not want to go through another reorganization and just hit the golf course instead.
Originally Posted by
mvoight
Domestic production isn't being shut down. The issue remaining is where new drilling can happen, not old production sites.
The most recent oil increase is due to Saudi Arabia's recently announced production cuts.
I teach a class that touches on resource consumption trends, and one of the weirdest things that students have a hard time learning is that domestic oil/gas production expanded dramatically during the Obama years. Believe it or not, the thing is that what the president controls with regards to oil/gas production is limited to relatively fringe oil/gas reserves. The world's oil market is in a glut, and will be for quite some time, even if domestic production gradually wanes off. The efficiencies of the entire consumption side of the equation, including new aircraft engines, make it difficult for oil to even spike that far (barring any major international production side disruption).