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General Motors: High gas prices are here to stay

in Non-Renewable Energy by

General Motors indirectly spoke about peak oil and the declining supply of liquid fuels in their latest announcement. GM announced plans to shut four truck and SUV plants that employ thousands of workers. It also said high gas prices are here to stay – and, with them, consumers’ growing preference for more fuel-efficient vehicles.

“These higher gasoline prices are changing consumer behavior and rapidly,” said Wagoner. “We don’t think this is a temporary spike or shift. We think it is permanent.”

GM also have approved production of new electric cars. Besides from that GM plans to increase production of some more fuel-efficient car models.

Read more: CNN Money

1 Comment

  1. “These higher gasoline prices are changing consumer behavior and rapidly,” said Wagoner. “We don’t think this is a temporary spike or shift. We think it is permanent.”

    In the 1970s I could buy a decent car that got 50 mpg. That is no longer available because all of the mandatory additions to cars add massive amounts of weight that make vehicles less efficient. The auto companies just went along because they did not want to look bad to the virtue signallers who were driving up the prices for new vehicles. They, and the foolish voters that also went along are getting what they deserve.

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