Wednesday, June 18, 2008

Gas moves everything around me

Posted By on 06.18.08 at 12:38 PM

On the subject of the intersection between crops, gas prices, and ethanol, the latest factor to push up the price of filling your car is the floods in Iowa. Of course the Iraq War will definitely start to pay for itself any day now, the benefits of which we should see after we submit to the demands of KBR.

Update: The airlines are getting killed right now, but don't cry for United, or at least not their abysmal upper management, which Portfolio claims makes it the Worst. Airline. Ever. (I'd like to get rid of that construction, kthxbye):

The five-year plan of reorganization (P.O.R.) cooked up by Tilton and chief financial officer Frederic "Jake" Brace predicted crude would average $50 a barrel. It was laughable even then. When United filed the P.O.R. in February 2006, oil was already selling above $65 a barrel—and a panel at the World Economic Forum in Davos, Switzerland, had just discussed the ramifications of $120-a-barrel crude. 

And Glenn Tilton is an oil man! But that's not to say he's an idiot, or that he doesn't understand money:

Tilton and his top executives emerged from the bankruptcy with 8 percent of the new United Airlines and a fast-vesting bonus plan that the New York Times called "insanity squared." 

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