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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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Gas prices spike plans for Hyundai pickup
Business News; Market ResearchGuest writes:

SEOUL–Hyundai Motor Co. shelved plans to build pickup trucks in the United States as soaring gas prices chip away at demand for trucks, a company official said Tuesday.

The largest South Korean automaker had considered producing pickups at a plant of its subsidiary Kia Motors Corp. that is now under construction in the state of Georgia, near a Hyundai plant in Alabama. The Kia factory is expected to be completed in 2010.


"We had studied it as a long-term project. But it appears to be too early to get into the market now because oil prices are rising sharply and trucks don't sell well in the United States," said Jake Jang, a Hyundai spokesman.

The spokesman said the company would consider the plan again if the market situation improves.

AP

Posted on Tuesday, May 13 @ 10:13:14 PDT by Leanan
 
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