9. Big 3 Management Believed There Would Be Lots of Cheap Oil From Iraq
I think the management of the big 3 were in the "Energy Task Force" meetings and were tipped off at that time that Bush** was going to invade Iraq and take their oil. The buzz at that time was that oil was going to drop to $28/barrel, and they made their plans accordingly. GM shut down the whole EV program and came out with new lines of huge gas-guzzling SUVs and trucks like the Hummer. Ford went ahead with the Escape Hybrid, but did not put that hybrid power plant into any other vehicles. They shifted their development resources into the big guzzlers as well.
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