General Motors indirectly spoke about peak oil and the declining supply of liquid fuels in their latest announcement. GM announced plans to shut four truck and SUV plants that employ thousands of workers. It also said high gas prices are here to stay – and, with them, consumers’ growing preference for more fuel-efficient vehicles.
“These higher gasoline prices are changing consumer behavior and rapidly,” said Wagoner. “We don’t think this is a temporary spike or shift. We think it is permanent.”
GM also have approved production of new electric cars. Besides from that GM plans to increase production of some more fuel-efficient car models.
Read more: CNN Money