The former chair of American (AMR), Robert Crandall, called into CNBC to say that the solution to disastrous oil prices are as follows:
- Air fares have to go up (meaning more inflation, more pressure on consumers)
- US needs a transport policy assembled by intelligent life forms: Ludicrous to fly planes from NY to Washington. Instead, fix Amtrak, free up slots at Laguardia, etc.
- Oil headed to $175 / barrel.
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