« More NYSE Floor Traders Getting the Axe | Main | Monkeys Beat the S&P 500 »

Latest Stories

• Excel Wankers and Recession Averages
• Sorry, New York is Closed. Check Back Later.
• Catching Falling 2009 Earnings Estimate Knife
• Survivorship Bias in Global Markets
• Talking Positions on a Lazy-ish Retirement Portfolio

January 21, 2007

The Trouble with Low Gas Prices

GM is apparently worried that once-again it has called a trend's peak by making a major shift in strategy. Now that it has begun embracing high-efficiency cars, gas prices are at 19-month lows:

With the price of oil at its lowest level in 19 months, we run the risk of reverting back to our traditional energy policy," Mr. Wagoner said in a speech at the Automotive News World Congress in Dearborn, Mich., last week. "That is, relying on the lowest-cost energy available on world markets (including imported oil), without providing adequate support for developing alternative sources."

When the head of the world's largest car maker -- and the leading marketer of large sport-utility vehicles in America -- complains that oil is too cheap, you know the U.S. energy debate is headed in a new direction.

Sure, and you know that GM is worried that it has once again missed its moment.

[via WSJ]

Sphere It   |   Digg it   |   Bookmark it   |   Stumble it   |   Facebook it

Comments