We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
Joined: Jan 25, 2006 Posts: 74 Location: Western Maine, USA
Posted: Wed Jul 18, 2007 3:45 pm Post subject: Re: GM exec talks down diesel
emersonbiggins wrote:
........................New 2008 Jetta to be among cleanest diesels, doesn't use urea injection..................
Even VW, with its mighty rounding error US market share, will need Urea injection on their diesels to meet 50 state emission standards. Only Honda is claiming they can make a 50 state diesel without urea injection, and their engine is still vaporware. At least the Mercedes Bluetech has proven 50 state emission compliance, albeit with urea injection. VW plans to use urea injection to make its US diesels 50 state compliant.
Posted: Wed Jul 18, 2007 4:15 pm Post subject: Re: GM exec talks down diesel
Mircea wrote:
Nobody wants light rail and it's of little value.
I was waiting for you to qualify this comment, and instead you went on a two paragraph diatribe against bus service (and one with which I could not agree more).
On the other hand, light rail has never been more popular, or done more to concentrate density and increase real estate values, something which bus service is specifically designed NOT to do. Consider this study of Dallas' DART rail system, which shows up to a 50% increase in the value of office buildings near the system, with 30-40% increase in the value of residences near the stops (increases over surrounding non-service areas).
Of course, the car will always be "more convenient" in the playworld of cheap oil-fueled, congestion and pothole-free commuting that resembles no place that I've ever been, but convenience is a notion that is about to collide with the harsh reality of resource limitations. _________________ “I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death.” George Carlin
Joined: Apr 28, 2005 Posts: 3277 Location: West shore Lake Eire, MI, USA
Posted: Wed Jul 18, 2007 4:25 pm Post subject: Re: GM exec talks down diesel
emersonbiggins wrote:
Mircea wrote:
Nobody wants light rail and it's of little value.
I was waiting for you to qualify this comment, and instead you went on a two paragraph diatribe against bus service (and one with which I could not agree more).
On the other hand, light rail has never been more popular, or done more to concentrate density and increase real estate values, something which bus service is specifically designed NOT to do. Consider this study of Dallas' DART rail system, which shows up to a 50% increase in the value of office buildings near the system, with 30-40% increase in the value of residences near the stops (increases over surrounding non-service areas).
Of course, the car will always be "more convenient" in the playworld of cheap oil-fueled, congestion and pothole-free commuting that resembles no place that I've ever been, but convenience is a notion that is about to collide with the harsh reality of resource limitations.
I must agree with you on this one whole heartedly having spent last week in Washington D.C. and having extensively used the Metrorail system in that metropolis. A really great system that a huge number of people use. It works so well because D.C. was designed and built as a walkable city and the Metro gets you in easy walking distance of almost anywhere you want to go, at least if you are a tourist or work down town. _________________ Oxygen: - An intensely habit-forming accumulative toxic substance. As little
as one breath is known to produce a life-long addiction to the gas, which addiction invariably ends in death.--Isaac Asimov
Posted: Wed Jul 18, 2007 4:44 pm Post subject: Re: GM exec talks down diesel
veliger wrote:
VW plans to use urea injection to make its US diesels 50 state compliant.
On their larger V6 and V10 models, yes, but the new 2.0L 4-cyl diesel for the Jetta will not use urea injection, or at least according to the latest edition of Popular Mechanics. The VWoA spokesman says so himself while the editor drives around one of the prototypes, so I apologize if I must accept the word of representatives and manufacturers in the auto industry over yours.
_________________ “I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death.” George Carlin
Posted: Sat Jan 12, 2008 1:43 pm Post subject: Are the big 3 trapped by their past lending deals?
I was listening to economist/investor Peter Schiff this morning who simply and clearly explained the shakiness of the loan portfolios of GMAC and Ford Credit, etc.
These are akin to the subprime mortgage lenders.
I was just my local Chrysler dealer two weeks ago looking at their new minivan, and the salespersons proudly explained to me, "Our biggest competition is actually used Chrylser minivans, as they are so in demand." He wasn't kidding, but he was only half right. That one dealer must have had 40-50 of them on the lot. That higher volume the big three stimulated by low financing costs is now coming to bite them in the neck by backdoor competition.
If you check autotrader on the internet, you can get a 2 year old Dodge minivan for $8K to $12K. And, in even two years, some get some big miles on them.
So, if we look at Chrysler's loan "portfolio" of outstanding loans, what have they really got as collateral? Say the van they financed for zero percent, over five years, back in 2006. Mabye on paper that loan has $15,000 to still come in by installments. But, what is it really worth if the "owner" decides to park it and leave it, or it gets repossessed? Likely after retail costs and repo fees, Chrysler will only get 80% of the sales price. And, that sales price itself may only represent 70% of the outstanding loan.
I have just considered minivans, if you look at more upscale cars, the depreciation is even larger.
Looking at the outcome of the sub-prime mess, with many families facing larger mortgage payments now, or rent payments if they were foreclosed, how many car loans will become non-performing now?
Click on Crunch times for the American consumer
Last edited by Denny on Sat Jan 12, 2008 2:33 pm; edited 1 time in total
Joined: Sep 25, 2004 Posts: 4165 Location: Boston, MA
Posted: Sat Jan 12, 2008 2:25 pm Post subject: Re: Are thre big 3 trapped by their past lending deals?
Considering that most of the people on this website believe that people will sacrifice everything else before their cars, the general consensus is that people will pay their car loans for as long as possible.
Moreover, the car loan isn't just for the car itself. You are responsible for every penny of that loan. If you default, they have a legal right to sue you for the difference between the car's value and your loan.
On the plus side, you have the right to bid for your own car in the auction. Of course, if you can't pay your monthly bill...something tells me you can't afford to pay cash for the whole thing. Federal Trade Commission on Vehicle Repossession
Does anyone seriously believe that there are legal loopholes that allow individuals to screw over big corporations? _________________ "www.peakoil.com is the Myspace of the Apocalypse."
Posted: Sat Jan 12, 2008 3:52 pm Post subject: Re: Are the big 3 trapped by their past lending deals?
Quote:
Auto loans originated in 2006 jumped from a 2.9 percent default rate in August to 4.5 percent in September, the largest one-month rise in eight years, according to the paper. Delinquencies made up a full 12 percent of subprime policies—those whose rates and terms were poorer, generally because of borrowers’ lower credit ratings.
These guys know exactly how many of their loans will default, and just bump the loan rate up on everything else to compensate.
95% of them are still paying on time. Even if they have to crush the cars and turn them into a cube, the system (for the moment) is still working well enough to keep the game going.
Joined: May 18, 2006 Posts: 3372 Location: Minneapolis, MN
Posted: Sat Jan 12, 2008 6:12 pm Post subject: Re: Are the big 3 trapped by their past lending deals?
pup55 wrote:
Quote:
Auto loans originated in 2006 jumped from a 2.9 percent default rate in August to 4.5 percent in September, the largest one-month rise in eight years, according to the paper. Delinquencies made up a full 12 percent of subprime policies—those whose rates and terms were poorer, generally because of borrowers’ lower credit ratings.
World Socialist Daily
These guys know exactly how many of their loans will default, and just bump the loan rate up on everything else to compensate.
95% of them are still paying on time. Even if they have to crush the cars and turn them into a cube, the system (for the moment) is still working well enough to keep the game going.
US: Student loan debt bearing down on graduates
You default on your student loan and come those "golden years" they just garnishee your Social Sercurity check.
Posted: Sun Jan 13, 2008 12:49 am Post subject: Re: Are thre big 3 trapped by their past lending deals?
Tyler_JC wrote:
Considering that most of the people on this website believe that people will sacrifice everything else before their cars, the general consensus is that people will pay their car loans for as long as possible.
LOL...so true!
Even "environmentalists" don't want to give up on the idea of car ownership. How many EV car advocates are on this forum?
Joined: Jun 13, 2007 Posts: 2725 Location: Minniesotuh
Posted: Fri Feb 22, 2008 1:28 pm Post subject: Nissan boss: U.S. auto market in recession
Economists and analysts forecasting further auto sales fall in 2008
SEOUL, South Korea - The head of Nissan Motor Co. said even if the United States is not in recession, its auto industry is.
“We are very lucid on the situation of the industry that there is a recession in the United States, at least in the car market,” Chief Executive Carlos Ghosn told reporters, saying automakers face rising costs for iron ore, precious metals, aluminum and other materials. …
Zoom, zoom _________________ "RRrrruuuunnnn!!!" ~Apocalypto
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