Picking up Nickels

Thursday, November 02, 2006

American car buyers just don't get it

With gasoline prices at $3 per gallon as recently as three months ago, many Americans saw their discretionary spending cash take a noticeable hit. SUV and truck sales plunged and demand for hybrid vehicles soared.

Apparently American car buyers have amnesia, since October auto sales data shows that SUV and truck sales went through the roof as gas prices have pulled back toward $2 per gallon.

I was hopeful that the latest gas price surge would encourage consumers, auto makers, and the government to find ways to conserve energy resources, reduce our dependence on foreign oil, and explore alternative sources of energy. Sadly, it will probably take a few more price shocks of $5 or $6 per gallon gasoline to get the job done.

Isn't anyone else sick of lining the pockets of oil-rich foreign countries that hate us and our way of life? Anyone? Bueller? Bueller?

3 Comments:

  • It's really surprising, people will cry about debt and then buy a 10 mlies per gallon monster, and drive 20,000 miles a year in that!

    Pus, the government isn't really encouraging alternatives. You must have heard about the "Who killed the electric car" story.

    By Blogger GolbGuru, at 11/2/06, 5:22 PM  

  • Interesting, I had never heard of Who Killed the Electric Car.

    I don't know what it would take to motivate our country to explore alternative energy sources. Maybe we need the President to deliver a speech like JFK did in 1962 when he said that the US would go to the moon by the end of the decade?

    By Blogger Frugal Frugalson, at 11/3/06, 9:58 AM  

  • I have to agree with golbguru, the government isn't doing anything to push alternatives. I have no pity for people who put themselves in debt getting a gas guzzling monster and then can't pay for the gas to drive it.

    What kills me is the fact that many of these people are buying these SUVs for appearances alone. I have an SUV, i pay for my gas and I'm happy that the price isn't higher, but I use my SUV as an SUV not a status symbol

    By Anonymous Matt, at 11/3/06, 4:23 PM  

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