Higher Gas Prices = Smaller Cars … Again
General Motors announced today that it is restructuring by closing plants and changing production to smaller cars. I for one will certainly not miss seeing those tanks – er, Hummers – on the roads. GM execs said that higher gas prices represented a “structural change” of the economy, not just a cyclical change. I think it’s both.
My husband and I have been betting on how long it would take the care manufacturers to respond to this gas price increase. Like other Baby Boomers, we’ve seen it before. We saw it in 1973 when OPEC raised gas prices, and the energy crisis of 1979.
Almost …read more
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