Gas Prices Fall, Will Fuel Consumption? + Ford Stock Cheaper Than Gas VIDEOS
Now that gas is cheaper will we consume less?
This AP news video reports that Americans are now paying significantly less at the pump. Will the gas price break lead to more consumption or have drivers learned lessons from $4 a gallon gasoline?
As gas approaches affordable again, will drivers forget the painful lessons of overreliance on a dwindling resource?
While the report misses an opportunity to plug the link between the burning of fossil fuels leading to the accumulation of atmospheric greenhouse gasses, its reinforcement of the oil scarcity message is a fine way to help move the world along to renewables. Of note is that the depressed economy continues to keep demand for gas down with once-bitten, dog-shy consumers. Also, OPEC meets today and is expected to slash production thereby sending prices up again. After the jump, a video interview with Csaba Csere, editor-in-chief of Car & Driver magazine: Ford stock cheaper than a gallon of gas and are the big three American automakers doomed?
CBS News video: The auto industry gets the one-two punch with high gas prices and falling market shares, Csaba Csere, editor-in-chief of Car & Driver magazine tells Julie Chen (Oct 10, 2008
GM stock fell to $4.76 per share, the lowest level since March of 1950. Ford stock is even lower. Csere says many seems to think that the big three Detroit automakers will not survive as separate entities; at least one is either going to go down or be consolidated with some other company. The interview underlines the automakers' lack of foresight in placing the majority of their sales in pickups, trucks and SUVs. Now we at TreeHugger love nothing more than a nice, juicy off-road vehicle on the conditions that 1) it runs on renewables 2) it ain't treading upon species habitat and preferably 3) its end-of-life has been accounted for with design that makes possible disassembly and reuse of materials. Given the lessons derived from poor business acumen and decision-making on the part of automakers, it's a no-brainer that retooling for the manufacture of new vehicles, made possible with $25 billion in government loans, should demonstrate vision and go beyond simply producing more "fuel-efficient" cars. Instead, and as always in this newish millenium, we're looking for that
jetpack alternative energy vehicle we were promised.
More American Big Automakers
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