Article by Rod Adams …. I remain perplexed, however, as to why the company has not made any effort to find a buyer for the fleet instead of destroying their productive capacity. It seems to be moving awfully close to a situation where powerful market players have determined that their most profitable course of action is to reduce capacity to drive up prices.
Though it’s legal when individual players make independent choices to take that kind of action, there is a zone with fuzzy boundaries in which such actions look like restraint of trade that is not dissimilar from the actions of the Standard Oil Trust.