Fuel Cost Hikes Mean Job Losses
As a followup to yesterday’s post about America’s desperate need for a revitalized passenger rail system, comes this article at Bloomberg.com today:
United Air Parent UAL Posts Wider Loss on Fuel Costs.
United became the fourth major carrier to announce this month that it was deepening its plans to cut capacity. Each $1 increase in a barrel of oil raises annual costs by $60 million at United, the world’s second-biggest airline.
This is a serious problem, since fuel prices are nowhere near the top, and these difficulties will continue for a long time.
Posted in Economy, Peak OilTags: Airlines, Passenger Rail, Peak Oil, Transportation