i don't understand how we can be setting new records on airflights at a time when there is a major oil crisis unfolding. oil isn't at 200$/barrel yet but you'd think even at 100$/barrel the price signals would cause at least some demand destruction.

and wasn't there talk in europe of jet fuel shortages. and governments everywhere are supposed to run out of emergency oil supplies in the next 1 to 6 months?

i'm a bit confused.