Branson: Here Comes $200 Oil

Sir Richard Branson has told reporters that he thinks global oil prices will hit $200 per barrel by 2010. He says that this will have a huge impact on US airlines United Airlines and American Airlines who operate older, less fuel-efficient fleets and even suggests that they could be forced into administration as a result of the relentless rise in oil prices. Branson says:

“Oil prices will continue to rise due to a combination of global demand and falling reserves. The strong airlines will survive, but one or more major US carriers will go out of business this year.”

Sir Richard Branson: $200 oil on way – Telegraph