The US produces about 5 million barrels of oil per day and imports 2 mbd from Canada and about 6 mbd from OPEC (See: EIA Petroleum Basic Data). They consume nearly 10 mbd of gasoline and 20 mbd of Crude. There's a long way to go to make the US transportation industry independent of OPEC oil.

I don't think so. If we make a real effort to conserve oil and begin to convert to alternative sources, then increasing prices would only speed up the process, and that's not what OPEC would want. I believe that oil is low now because they want us to fall back into our old habits. Once we do, prices can rise again, just as they have many times over the last 35 years.
Hubris and stupidity. It reminds me of the great Decider.

They might even have gotten away with it if the three had come in one jet.

.

...And brought the union rep with them and took a taxi from the airport. Wonder how the union rep got there... the union with a private jet would have been even more embarrassing.

I'm beginning to think like CWT.... Time to have them drawn and quartered, then burn the quarters and sprinkle the ashes in the urinals at every beer joint in Detroit.

Obama gonna find a way to help them. Just watch.

I hope that what Obama's gonna do is find a way to soften the blow for pensioners and retirees with extended health insurance. The companies don't concern me, but the people do.

.
Irrelevant point:

I had some worn parts replaced on the starter motor of my Rover 416 Si (1996) today.

The owner of the shop had a 1950’s Studebaker for sale! Heard they ran out business just over 2100 weeks ago. Pity, she was a real beauty!

Nah! While being drawn and quartered is no doubt gruesome, it's over far too quickly to be painful enough for what these people deserve.

Good point. We have let auto makers go out of business before... American Motors, Packard, Willys (original maker of the Jeep).

And the Studebaker Golden Hawk was one of the best looking autos Detroit ever put out.... decades ahead of its time.

We've never let so many American workers hit the streets at one time, unless you count the Depression. I'm for bailing out the company, just not management. I'd like to see management lose their jobs and pay hefty fines for the mess they've caused.

On the other hand, I saw a car show in the news tonight, and people were talking about how a hybrid wasn't important for them because gas is cheap now. I blame people for being stupid as much as I blame CEOs for being greedy dirt bags.

If you're having a historical sadism competition, you might like to consider this. The combination of the drop and the knot that breaks the neck in hanging is an innovation; in the good old days of Jack Ketch you just dangled there slowly strangling, which is a nasty way to go. So your friends had to bribe Jack (he was an entrepreneur who needed to turn a profit) to let them hang onto your legs and so kill you more quickly and mercifully. Now, the gentlemen you have in mind..... wouldn't it be interesting to see whether they have any friends and if so, what they would pay? :D

Yes, but I'm afraid they have enough money to bribe Jack and a few others to do the job. Plus, I'm sure there are ways to keep them alive and in pain for days. ;)

I'm only half-joking about this. I may have some socially liberal tendencies, but generally I think you should get what you deserve, and these guys have earned a world of pain.

From today's news:
Wonder if he's planning on helping the Japanese build more efficient cars?

I think it's just as important to build cars more efficiently as it is to build more efficient cars.

Guess Obama is going to quickly head down the fiscal policy road... good deal.

That's the problem with Detroit: he doesn't need to help the Japanese. They're way ahead with a car that gets 48 city, 45 highway.
Building cars that have less material will make production more efficient. Build a 5,000+ pound vehicle and you need to buy an awful lot of processed material. It also requires more labor.

Reducing wages on the other hand is just another way of increasing prices, and we sure don't need that.

GM apparently hanging their hat on the new Volt... all electric drive, 40 miles range, and extended range at 100 mpg (with onboard internal combustion engine for recharging batteries on the fly.)

Two problems. Won't be ready till end of 2010 and the projected price is $40k. So, why wouldn't a commuter buy a Korean Kia, save $30k to buy gas with?

The Volt at $40k is not the answer.

Bingo.
Not unless the target demographic is moderately wealthy hippies.

Interesting to see the comments about fuel efficiency and alternative energy. Yes, that is important. However, I recently found myself looking at new cars and fuel efficiency was but one parameter in my decision (and no, I've since lost my job and won't be buying soon).

Top priority for me was reliability - and a glance at Consumer Reports April auto issue shows mainly 'black' and 'do not recommend' for most of the Big 3 cars while Honda/Acura, Toyota/Lexus, and Nissan/Infinity have nearly all 'red' (strong positive) ratings and are 'recommended'

Second priority is comfort, noise and added features - and the Big 3 fare well but are not winning, are not heads-above the others.

Third priority for me is fuel efficiency. Finally, I look at these top 3 priorities and then factor in the price to get an overall feel for 'value'. I have not yet had any of the Big 3 US cars make it to even the top half of my list.

Sorry to be so cynical, but I blame labor costs - both the current per-hour costs of labor as well as cost of retirees. When the cost of a GM employee (including benefits) is $75 per hour and the cost of the US worker at the US Honda facility is $45 (2005/06 numbers, http://www.heritage.org/Press/Misc/ALaChart.cfm then I'm sorry, but you can improve fuel efficiency, change your model lineup, fire all the managers, offer better Warranties - but at the end of the day, you can't be competitive with labor costs being 1.5 to 2 times more than competitors.

A bit of an aside- if anyone reading this thread has not seen the 1989 Michael Moore film 'Roger and Me', it's worth seeing. Though Moore is certainly controversial and many may not be fans of his works, this film is the documentary that got Moore started. It may not be the most objective/balanced film you'll ever see, but it's about GM outsourcing labor to save money and the impact it has on Flint (and Detroit) Michigan.

My point is that 20 years later we're still seeing issues over labor costs, profits, Management, and the competition vs. Japanese cars.

You'd think these problems would have been solved by now?

I think it likely that none of those apply to many car buyers. They are buying something entirely different:

Cadillac = rich and old
Buick = old and comfortable
Pontiac = young, sporty and exciting
Corvette = rich, young, sporty and exciting
Chevrolet = working guy and not ashamed of it
SUV = semi-rich outdoors type (young, active)
Pickup = rugged outdoors, or country/farmer/rancher
Fuel efficient = BORING

Chrysler and Ford not so different. Now, make a family car that gets 50 mpg and goes from 0-60 in 6 seconds and you got yourself a winner.... but only if it looks cool based on the status group you think best fits you.

We have been market segmented.

I think that this is the critical factor that 95% of the US doesn't get yet: fuel efficiency is critical, no matter what segment of the market you're in. Gas is very cheap right now, but that will not last. As we pass peak oil, its price will rise, and the further past the peak we go, the faster the price will rise. The only hope is to conserve. Drilling more will only push us past peak oil sooner and faster.

Who cares if a car is boring. If it is efficient and reliable, you will have more than enough money to be "cool" with something else less important.