The National highway traffic administration has recently put on tougher enforceable standards on the auto industry in order to bring them in line with EPA standard and to raise the fuel economy from 26 mpg to 35 MPG by 2011. The auto industry is balking because of the high cost this will entail and the loss of revenue they will suffer by producing these cars and working to meet tougher standards. The is a difficult assignment given an auto industry that is suffering tremendous losses in the face of high gas prices and rising overhead cost.
While the consumer has no choice but to reign in spending to make ends meet, this has in effect left the auto industry reeling from unsold cars and double digit losses in sales from the previous year. This is in effect a crises of monumental proportions and flys in the face of the National Highway Traffic administration mandates. There is literally no end in sight. We were hit with high Gas prices, but no plan in place to deal with a slow down in automobile purchases in just about every town and major city in America.
Off shore drilling is not the answer at least not immediately. Dependence upon foreign oil will continue for the foreseeable future. We rode the tide of good times for way to long without having the foresight to prepare for the inevitable; the high jacking of the American Consumer with our continued dependence on foreign oil.