Oil, the economy and airlines

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Well said, Grant.

It's like the old saying in Alaska. If you find yourself out with a buddy fishing and run into a bear, you don't have to be faster than the bear, you just have to be faster than you're buddy.

I think there just might be a bit of that thinking going on in the industry. Everyone is waiting to see who's the next one to fail.

Extended periods in bankruptcy protection might be more difficult this time since there's little money out there to finance a reorganization plan. So airlines will have to hoard whatever cash they can before filing.

I still find it hard to believe that oil will stay at these levels forever. At some point, the demand just has to drop off enough to drive the supply up. And when that happens, we just might see a pullback of oil.

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