Moderated by Rick Badie
Delta has bought an oil refinery in suburban Philadelphia to cut fuel costs. The world’s second-biggest airline estimates the in-house oil provider will save it $300 million on its annual fuel bill, which hit $12 billion last year.
Today, Delta CEO Richard Anderson explains the purchase while an airlines analyst deems it an interesting experiment. Also, the president of the American Fuel & Petrochemical Manufacturers writes about how refiners are being squeezed.