In case you missed it, on Wednesday General Motors announced the closure of four truck & SUV factories and is also considering dropping its production of Hummers due to a 30% drop in sales. Reason? Soaring gas prices.
News stories about the impending death of the SUV and Hummer era are already hitting the wires. (An understatement if I ever heard one)
Airlines are also teetering for the same reason.
On Friday, the Senate Republicans successfully filibustered a climate change bill, effectively killing it for the year.
And as this is being written, Wall Street fell like a fat man without a parachute after oil prices hit a new record of $139.12.
Fun times ahead of us, that's for sure. On that note, I'd like to share the following video for just the occasion...http://www.youtube.com/watch?v=qSz6X5NMXnM
For a more comprehensive review of the crude hitting the fan, check out http://www.energybulletin.net/