“Your Shoelace is untied”
It’s a famous line, you're looking ahead and something takes you off track and wallops you down.
That’s what happened to GM, Ford and the former Chrysler Corporation in CY 2008 when suddenly without notice the price of crude oil sky-rocketed towards the $150 per barrel mark, as brokers (based in London) speculated short positions on oil indexes without any regulation - other than those of greed.
Thus with the cost of oil rising almost out of control, Detroit’s big 3 slashed truck production, planned smaller fuel efficient cars and laid off thousands of workers.
Former President Obama’s “Big 3 Bail or Fail” plan of 2009 accelerated the demise of US auto makers by providing tax credits for smaller unprofitable cars at a time when US and Global oil production started its steady rise as China, India and Russian economies slowed during the mid 10’s.
US Alaskan Oil (symbol “USAO”) and former Vice Presidential candidate Sara Palin stated “back in 2008 US politicians sold the American public on global warming scams and sheer oil shortages because of increasing world demand. We now know the gas crisis of 2008 was nothing more than manipulation and unfortunately the former Big 3 automakers suffered the worst”.
Kia Motors (Ford's Parent Company) CEO Mark Fields stated today that “as long as large US cars and trucks get over 35 MPG and the price of gas stays at $5.95 per gallon we see no need to plan smaller car and truck platforms for the US market any time soon. We learn by our mistakes”.
Brent crude oil closed today at $125 a barrel – its lowest levels since 2014 this at time when wind power tax credits have peaked with little or no new wind energy farms on the horizon.
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Well its possible!!!
Monday, September 22, 2008
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