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...luck. A fleet of fuel-efficient hybrid and clean-diesel models is arriving at dealerships over the next few months--and they aren't your typical tin-box green machines. Automakers are delivering what seemed unthinkable just a few years ago--midsize cars and SUVs with the horsepower, performance and size that Americans expect, plus improved fuel economy. Hybrid cars are propelled by a combination of a gas engine and an electric motor--a complicated technology that still draws blank stares, even though hybrids have been on the market for nearly five years. The latest versions, however, might be summed...
...bewildering questions in the auto industry is how high gas prices would have to climb before Americans dump their gas guzzlers for more fuel-efficient cars. The issue comes to a head every time prices spike at the pump, whether because of turmoil in the Middle East, a lack of refinery capacity or old-fashioned opportunism in anticipation of a surge in demand. That's the scene now, with oil futures hitting record levels and gas prices averaging nearly $2 per gal. nationwide just as the summer driving season kicks off. If you just spent $75 to fill up your...
Ford's rivals are sending similar signals. Chrysler is coming out with a diesel Jeep Liberty this summer, equipped with a four-cylinder 2.8-liter engine that the company claims will perform like a V6, with a 25% improvement in fuel economy (it will be sold in only 45 states because of antismog restrictions on diesel passenger vehicles). Lexus plans to deliver a hybrid version of its luxury RX330 SUV, the 400h, this fall. And Honda says by year's end it will sell a hybrid edition of its V6 Accord that will outperform the standard version in fuel economy...
Will hybrids go mainstream? Detroit economists are skeptical, arguing that it would take $4-per-gal. gas to significantly shift new-car buyers toward hybrids or other more fuel-efficient cars. The new hybrids will probably be priced a few thousand dollars above their conventional cousins; about $2,500 is typical now. (The Federal Government is offering a $1,500 tax deduction this year.) It's unclear whether consumers will want to spend the extra bucks if the fuel savings turn out to be minimal. But there's reason to believe that gas prices may not fall after the traditional...
PURNOMO YUSGIANTORO, OPEC president, arguing that even after crude oil hit a 21-year-high price of $41.85 a barrel, the cartel has limited power to control the cost of fuel...