, Columnists
All Those Parked 747s Herald Peak Oil Demand
Jet fuel was once the last great hope for long-term growth. No longer.
A vision of the future.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
Fly from New York to London, and you may occasionally travel back in time. British Airways flies more Boeing 747-400s than any other passenger airline, roughly one in five of those still in operation. Every so often, a Trans-Atlantic trip involves trying to catch a few hours of sleep on one of these old workhorses.
That may never happen again. Folks will still make the trip across the pond; it just isn’t likely to be on one of those old 747s again. That matters a great deal for the oil market.