Some seem to think so, as evidenced by this article in the Daily Telegraph, courtesy of our friends across the pond.
It makes a pretty interesting case for speculation as the cause of the runup, as if more evidence was needed, and seems to put the cap on the supply and demand canard, doesn’t it?
Let’s talk about oil. How low do you think it will fall? Will the curiously-timed fall in oil prices short-circuit the demise of the pickup and SUV?
One Comment
I doubt that they will fall much further. While the speculative bubble might have burst the underlying supply/demand factors remain – particularly the massive increase in demand in the developing world.
I do hope the demise of Suburban Assault vehicles continues. I thoroughly enjoy laughing at those drivers when they whine about how much it costs to fill their Hummers!