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All the top executives in the auto industry tell me that oil supplies will only get tighter this decade. They predict that fuel prices will do nothing but go up. And they say customers will be clamoring for small, fuel-efficient cars. Or electric ones. But what if it turns out they’re wrong?

After all, over the last century the price of a gallon of gasoline in the United States, on an inflation-adjusted basis, has always come down. Always. Data from the Energy Information Administration shows that since 1919 the price of gasoline has spiked during war time or global turmoil, but it has always come down after that. This is a key reason why Corporate Average Fuel Economy regulations have not worked. As the relative price of gasoline drops over time, people are not motivated to buy small, fuel efficient cars.

A decade ago, the Peak Oil theory attracted a lot of adherents. It postulated that global oil production would peak in 2006, and that the following shortage would send oil prices skyrocketing. Sure enough, in 2008 a barrel of oil shot to 0. It looked like the Peak Oil theory was coming true. But less than 12 months later it dropped to under a barrel. And though the price is now closer to 0 you don’t hear as much talk about Peak Oil anymore. Here’s why.

John McElroy is host of the TV program “Autoline Detroit” and daily web video “Autoline Daily”. Every week he brings his unique insights as a Detroit insider to Autoblog readers.

Continue reading What if it turns out there’s plenty of oil? [w/video]

What if it turns out there’s plenty of oil? [w/video] originally appeared on Autoblog on Tue, 19 Jul 2011 19:01:00 EST. Please see our terms for use of feeds.

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There’s a disturbance in The Force. Darth Vader owned a blue Z28. Tell us the truth…you thought all of Vader’s vehicles were black, right? Well, this particular vehicle of his shows that he has, or had, a bit of a sunnier, more playful side as well. This teal 1983 Chevrolet Camaro Z28 5.0 H.O. proves that the Dark Lord of the Sith must have had at least a smidgen of good left in him. How can you be pure evil and still drive an aqua Chevrolet Camaro? Can’t be done.

Up for sale right now on eBay Motors UK with no reserve and a low £650 starting bid (about ,000), this British offering would make a fun project for someone who has progressed beyond building X-Wing LEGO kits and 1/250 scale Millennium Falcons. The rare car (well, rare for Blighty, anyway) is said to have been owned by British actor David Prouse, the man inside Darth Vader’s getup in the original trilogy, and it has 250,000 miles on its tired 5.0-liter H.O. V8 and will need to be towed. There’s a bit of rust, but the body looks relatively straight and although it needs a tractor beam to move right now, it has a newer differential and should need just a carburetor to get back to running condition. Check out the listing on eBay Motors and the gallery of pics below. Thanks for the tip, Leo!

[Source: eBay Motors UK]

eBay Find of the Day: Darth Vader’s Z28 proves there’s still good in him originally appeared on Autoblog on Fri, 23 Jul 2010 09:34:00 EST. Please see our terms for use of feeds.

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