Delta Airlines to buy refinery?

Isabel Ordonez, Susan Carey and Tom Fowler, reporting for the Wall Street Journal:

Delta's unorthodox bid underscores how the airline business scrambles for innovative ways to lessen the impact of skyrocketing crude oil prices. Delta spent $11.7 billion last year buying fuel for itself and its regional units--about 36% of its operating cost, and $2.8 billion more than in 2010. The airline has been the most vociferous industry critic of the role that speculators allegedly play in inflating crude oil prices.

Via associate professor of management and strategy Mike Mazzeo.