People unclear on the concept - the price of Gasoline

People fail to realize that Gasoline is a volatile commodity and its price varies in response to a lot of things. Last summer at over $4/gallon, it was artificially high. Now at $2/gallon and less it is artificially low.

From Orlando station WFTV:

Falling Gas Prices Jump-Start GM SUV Sales
Automaker Puts Texas Plant On Overtime Amid Other Closures

Despite the down economy, falling gas prices have driven consumers back to the sport utility vehicles they once gave the cold shoulder.

Workers at General Motor's Arlington, Texas, SUV assembly plant began working overtime this month and are scheduled to remain on overtime for the rest of the year.

The plant, which employs 2,500 workers, is now the only GM factory building full-size sport utility vehicles like the Chevrolet Tahoe, GMC Yukon and Cadillac Escalade.

Although sales of the vehicles are still down overall, they have rebounded in recent weeks as gas prices have fallen and cash-strapped automakers have slashed prices. The vehicles have proven to be a solid source of revenue for GM.

"We're still on overtime," plant spokeswoman Wendi Sabo told The Dallas Morning News. "Nothing has changed."

GM is also placing a high-stakes bet on its SUV line overseas, opening a new $300 million plant Friday near St. Petersburg, Russia.

The plant will produce GM SUVS, the Chevrolet Captiva and Opel Antara, which have become status symbols in Russia, reported Edmunds.com.

And when gas hits $5/gallon next summer, these morons will be crying into their beer and the car manufacturers will wonder what hit them (again).

And the Big Three's commitment to the development of efficient turbo diesels?

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About this Entry

This page contains a single entry by DaveH published on November 11, 2008 3:02 PM.

The Carbon swindle was the previous entry in this blog.

More people unclear on the concept - the Carnegie Hall management is the next entry in this blog.

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