The End of Commercial Aviation?

The New Republic has an interesting article discussing the possible demise of the commercial aviation industry.

Early signs of an aviation apocalypse are already upon us. As oil prices flirt with $130 per barrel and the dollar struggles, airlines are paying nearly 80 percent more for fuel than they did a year ago. Twenty-five airlines have gone belly-up this year--three to four times the usual yearly rate. Major carriers like American, Northwest, and United, still reeling from the industry downturn after September 11, go barely a month without announcing layoffs and capacity cuts.

I've always been of the opinion that the market will force someone to create a better product. In this case, I'm expecting to see all electric airplanes (in 10 years?), biodiesel fuled planes, or maybe even solar powered planes.