The Upside of Oil Price Increases
One of the few benefits of soaring crude oil prices has been the negative effect it is having on the sales of (unnecessarily) large SUVs. There is simply no reason for the number of Tahoes, Suburbans, Expeditions, Hummers, etc. crowding on our roads and into parking lots (especially “compact” spaces) and other places not designed for the gas guzzling behemoths. The gas crisis of the 70s opened the door for more fuel efficient vehicles from Japan and ultimately domestic manufacturers and a willingness of consumers to buy them. Hopefully the oil price crisis we are experiencing will have a similar effect this time around.
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