ewrbasedpilot

Oil is up another $3 a bbl right now.........with the speculators cheering on higher prices. Jet fuel is now approaching $170 a bbl. I guess only SWA will be in business much past summer. What a sad state for our country and industry. I hope our oil buddies are proud of what's happening.......

jet320

Lack of vision on part of USA Govt. and with not so friendly friends on your back yard, it looks f@@@.

Herkulesdrvr

As I've said earlier oil is a COMMODITY. Eventually the bubble will pop much like it did in the 1970's. The sky is not falling people. Flights are full which indicates people are still willing to pay. Four dollar gas hasn't kept anyone off the road has it? Of course not, some of you people need to stop worrying about something you have zero control over.

ewrbasedpilot

The reason flights are full is because of capacity reductions and low fares that were purchased up to a few months ago. We CAN NOT continue to provide our services with costs going upwards of 1-2% every DAY. This insanity has to stop. Unfortunately, with a nad-less government, we're destined to be screwed for a long time because of this. If I was in the bottom 20% of an airline, I'd be a bit worried right now. Things are not looking good regardless of what kind of spin you put on it.

Cubdriver

Commodities are not exempt from law of supply and demand. If there is less oil available after the peak in production arrives it will have to cost more per barrel. Oil is ingrained in the way of life in modern nations and they simply do not have the option to reduce demand at will. Only if there is a major alternative energy initiative will there be the option of reducing demand for oil. The bubble in the 70's was not from peak oil it was from OPEC actions. Ultimately, OPEC is subject to the depletion of its own supply which is starting to happen now. Speculation on oil commodities has run up the price for now but the fundamental reality is the same, that after oil production peaks it will be in gradually dwindling supply.

A300_Driver

Unless everyone on this board is writing their Congressmen, Senators, and even the President demanding we start drilling in ANWR and off the coast of Florida, we are not doing our part to stabilize the price of oil.

It is all about supply and demand, and unless we get supply above demand we are all going to continue to be hosed!!!

ewrbasedpilot

While writing congressmen, senators, etc., might be nice, it's a waste of time and money. The ONLY thing they understand is the almighty DOLLAR. Unless you're deep in their pockets, the ONLY thing we are to them is "whiney, overpaid pilots" (ala John McCain). The refineries have cut back production, and OPEC is not going to do anything to stop this gushing flow of money into their coffers. Personally, I think the people in the middle east must be laughing their collective butts off as we continue to sink and they continue to prosper off our hard earned money. Pathetic..........

travelingWX-man

Write your congressman, I've written mine. But you are still missing the point. Yes we should drill, but it wont make a bit a difference to current prices. Its like shooting a bb gun at an oncoming freight train. We will never, ever, ever produce as much oil domestically as we did in the 70s, Period. We should maximize our production, but it has been in a down turn since 1970. Check out the EIA's website, domestic peak production is well documented. Even when Alaska first came online, all it did was slow the eventual decline. Domestic consumption must equal domestic production, otherwise we are hostages to the petrol-states.

Spaceman Spliff

It's probably strategic. The sooner we use up the oil from the middle east, the sooner their sheiks can go back to nomadic camel herding, or whatever....right?

Herkulesdrvr

Point taken. However, the market eventually has to correct itself which could take months or years. Im in the bottom 10% and no Im not worried because I have invested wisely and have other sources of income, something everyone should be doing already whether your a pilot or waiter. Dont tell me how other people dont have that luxury because that is bull, people need to take responsibility for themselves. I dont buy this sky is falling mentality either. Nobody is driving less, the economy is still growing despite what politicians and cnn says. A recession by definition is the drop in GDP for 6 consecutive months, hasn't happened. We have not had one month with a dip in GDP yet, that is a fact not an opinion. Realistically, oil is going to keep going up for the next few months, get over it already. I dont think you will see the panic of your elected officials and media outlets until after the election. How many months have we had this same conversation? Back in October, we were saying oh my gosh oil is pushing 100 dollars and Southwest hedges are running out (that is funny when I hear it every year). Wow, here we sit in May, we are still kicking and still having the same conversation. Let me say that next month I will start the newest thread on APC that says "Oil 150 a barrel, what now?" Life goes on people.