re: going to tank hard Remember this equation (according to Merrill's):
Every US$1bbl above US$83 equates to a 2% decline in FY07 EPS and a 5% decline in FY08 EPS.
However despite some moderation in the fuel price over the last week, the forward curve continues to
predict prices > US$90bbl which continues to present downside risk, albeit to a much lesser extent now given QAN's hedging in FY07 (70% at US$71).
re: going to tank hard, page-9
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