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What will happen to the aviation industry after the worlds supply of fossil oil begins to diminish?

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What will happen to the aviation industry after the worlds supply of fossil oil begins to diminish?

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Harry Valentine offers a review of some of the alternatives that need to be discussed and considered now, so that the industry can be prepared to change and thrive in the future. Commercial aviation is an essential component of the global economy. The cost of aviation fuel is directly determined by the prevailing world price of oil, and it accounts for a major proportion of airplane operating costs. Several airline companies now add a fuel surcharge to the ticket cost of a commercial flight to compensate for the recent rapid rise in fuel costs. World oil prices are expected to remain high for several years. The prospect of sustained high aviation fuel prices could propel airline companies to seek alternative aviation fuels. Seeking alternative fuel could become paramount for the airline industry should the peak-oil phenomenon actually occur. The cost of liquid combustible fuel would likely escalate during the post peak-oil period. Synthetic fuel that is processed from natural gas and c

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