The U.S. Air Force operates the "world's largest airline" and every $10-per-barrel increase in crude oil boosts its annual operating costs by $610 million, Air Force Secretary Michael Wynne said on Thursday.
The Air Force's bill for aviation fuel was about $6 billion in fiscal 2007, Wynne told a defense industry group. He declined to predict what the total would be for 2008.
U.S. crude oil futures soared to a record above $135 a barrel on Wednesday, more than double the price of one year ago.
Thursday, May 22, 2008
Every $10 oil rise ups Air Force costs $610 million
Reuters reports:
