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Sr. execs talk fuel, distribution.

Publication: Business Travel News
Publication Date: 06-MAR-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Washington, D.C. -- Dashing the wildest hopes of airline representatives among the travel executives attending the 14tb annual Masters Program held here last month, Guy Caruso, administrator of the U.S. Department of Energy's Energy Information Administration, told participants, "We're not going back to the $20 to $25 per barrel of oil that we were used to in the '80s and '90s."

However, that does not mean the price of oil is returning to the $70-plus highs seen last year, he said. He anticipated a steady oil market staying in the $50 range. Not in actual dollar figures and adjusted for inflation, the $50 mark will linger for between 20 and 30 years, Caruso said. "We're not running out of oil," he said. "We have an investment problem, not a resource problem." However, IJet CEO Bruce McIndoe during the session interjected that oil is "a finite resource and we are depleting it."

Caruso said airline fuel consumption...

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