How are my canaries doing? Another airline, EOS died..

For those keeping track of them "canaries" and Peak Oil, yes, its now six airlines gone bust during the month of April. EOS the all-business class Atlantic carrier went bust this past weekend. And for those who think there is no linkage to the price of oil? Oil today (Monday) was within some cents of 120 dollars per barrel. This is not looking good...

Comments

[Sami]

No, on the contrary, this is looking great! Not that bankruptcies or the associated job losses would be inherently good as such, but the steadily increasing oil price is good. I for one hope it continues the upward trend, though it could do so at an annual pace of, say, 20-30% instead of a 100%.

That would result in some genuine effort in reducing oil consumption through conservation and alternative, hopefully ecologically more friendly, energy sources.

The worst that could happen is if we got back to $20-per-barrel prices for any longer periods of time.

[cooli]

Totally agree with Sami in the comment above. I would even say that any smart/forward-thinking country/government (is there really any? ;-) should have long time ago fix a higher price for oil with a fix increase every year, so that they would prepare their economy and industry to the big energy shift that is coming upon us. The difference with real price should even be used to help other energy source to be strengthen and develop more in the meantime.

Anyway it would be great to hear your views, Tomi, about the potential impacts on mobile/telecommunication industry that such a energy shift may have e.g. less air-travel, more telecommuting, virtual worlds and instant mobile communication.