First, let's look at the source of the problem:
Detroit News - Representatives and senators should have been
answering questions from the automakers about why they approved
government policies that have played the biggest role in driving
American carmakers toward extinction. . . . Why did members of
Congress — such as House Banking Chairman Barney Frank, Senate Banking
Chairman Christoper Dodd and others — raise fuel economy standards,
adding more than $85 billion in costs as the industry was
restructuring itself?
If the reason was forcing automakers to deal with higher gasoline
prices, perhaps the politicians could explain why they have made fuel
more scarce by blocking domestic drilling for oil and preventing new
refineries from being built during the past three decades. -
http://www.detnews.com/apps/pbcs.dll/article?AID=/20081121/OPINION03/811210321/1031/opinion03
On Nov 22, 4:04 pm, rigsy03 <[EMAIL PROTECTED]> wrote:
> But considering human nature, d.b., and the millions of unsold cars
> with slashed prices, I think Americans and those that like American
> cars (the Chinese prefer Buicks) will simply disregard low gas mileage
> now that oil/gas is low and the mery-go-round will twirl again.
>
> On Nov 22, 12:10 pm, "d.b.baker" <[EMAIL PROTECTED]> wrote:
>
> > [Q] - Russia is now lurching towards a major economic crisis, experts
> > predicted today, following news that the price of oil had slumped to
> > under $50 a barrel.
>
> > The collapse in the value of oil was likely to have several
> > catastrophic consequences for Russia including a possible devaluation
> > of the rouble and a severe drop in living standards next year, they
> > warned. . . .
> > -http://www.guardian.co.uk/world/2008/nov/20/oil-russia-economy-putin-...
>
> > [Q] - Iran is the second largest Opec oil producer and already feeling
> > the pain of declining prices more than any other in the Middle East.
>
> > Its “rainy day” oil stabilisation fund, used to release profits when
> > revenues decline, is reportedly badly depleted as a result of
> > mismanagement by Mahmoud Ahmadinejad’s government...
>
> > Iran is especially vulnerable because 80% of its revenue comes from
> > oil.
> > -http://www.guardian.co.uk/world/2008/nov/20/iran-oil-prices-mahmoud-a...
>
> > [Q] - Hugo Chavez has reduced Venezuela’s support to foreign allies
> > and is poised to make deeper cuts at home and abroad as plunging oil
> > revenues hit his self-styled socialist revolution.
>
> > The government has warned of austerity measures after years of
> > breakneck spending on social programmes, nationalisations, arms and
> > diplomacy, an exhilarating splurge when there seemed no end to petro-
> > dollars.
>
> > South America’s energy giant relies on oil for half of its exports and
> > 95% of government revenue, leaving Chavez’s ideological and political
> > ambitions vulnerable to a crunch. . .
> > -http://www.guardian.co.uk/world/2008/nov/20/hugo-chavez-venezuela-oil...
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