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Aircraft fuel 'hugely overpriced', says Emirates airline's Tim Clark
Airline fuel should be priced at $52 per barrel, according to the president of Emirates, Sir Tim Clark. In an interview with CNBC at the Aviation Festival in London, Clark said that he believes that air fuel is “hugely overpriced.” (www.arabianbusiness.com) Plus d'info...
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How is a barrel of refined product going to cost LESS than a barrel of crude oil??
Me thinks Sir Timothy has banged his head 1 too many times and is delusional. If math serves me correctly, with crude oil around say $88 a barrel, how the H does he figure a barrel of jet fuel should costs about $1.184 a gallon??
...perhaps he could tell some of his friends within OPEC this?
It's very basic economics. The cost of the finish product is a combination of all of the costs to produce it plus whatever the market will accept as a fair price. If you price your product below your cost to produce, then you take a loss and eventually go out of business.
Don't editors spell-check their articles??? >>> " ... fourth biggest airline in the work ... "
