I agree with you PD about the importance of reducing reliance on fossil fuels.

Did you read his post from yesterday, where he was at the GM dealership and the place was dead?

The car dealers will be among the first to see the fallout of the rising interest rates and difficulty in taking equity from homes. All those new cars your friends and neighbors are driving are courtesy of their home ATM, and the wealth effect. Now that that’s over, you won’t see as much.

My daughter noticed last fall, that she was no longer seeing her friends’ parents drive up in new cars. We used to regularly see cars with the dealer license plate. That is now a rarity.

I can’t wait to see the earnings reports from the car dealers. Expect Q2 2006 to be the beginning of a long decline.