This piece just hit the wires about gas moving down to between $2 and $2.50/gallon. Remember the idea that the Dow was going to explode to 20,000, oil was going to hit $100/barrel by Christmas, and that we’d all be riding Vespas since gas was going to hit $5.00/gallon?
This is the typical panic media redux.
Mark this down…if gas does go down to $2.50/gallon or less…watch SUV sales creep back up. The American people have a very short memory..especially when they’ve been cramming their 3 kids into the back of a honda civic.