There are many advocates of gradually making the transition to hydrogen fuels and technology. With Hurricane Katrina causing disruption in oil production, more are seeing further reasons to move in this direction especially within the auto industry.
What this crisis will mean for Detroit’s automotive business is unclear so far, but it’s safe to say it will not help an industry already struggling with several major problems, not least being the effects of sustained high gas prices on sales of larger vehicles. Consumers were already balking at fuel prices in the mid- to high two dollar range; now the prices are heading higher, possibly much higher.
Until now, some had taken comfort in the fact that crude prices, when adjusted for inflation, had still to reach the highs of the 1970s oil shock. But that may not be true much longer.
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