The one year projection for oil is around $110 per barrel. If true, things will change in the industry for passenger carriers, the margins are simply too thin to absorb this magnitude of energy expense increase.

Cargo carriers will feel the pinch although they generally have more "revenue units" in the back to distribute increased cost without losing significant market share. The trucking component of each of the major cargo carriers could negate that hedge.

I'll shut up before I start sounding (more) like an analyst