Apr 6, 2012
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.