A positive of the drop in the price of oil is in the US, Inflation Eases on Oil Price Drops per the WSJ. But, it is hard to invest in alternate energy when you have no idea will the price of oil keep on going down, and if so, how far down. It's around $90 and that's with Hurricane Ike impact on production (which still has not restarted). The fear is that the world is going into a recession which will decrease the demand for oil in the future.
If the price of oil crashes, I hope the research into alternate energy keeps on going. The Prius was created due to an effort by the US government to develop a more fuel efficient car, the sad thing was the effort got canceled, yet Toyota came out with the Prius over 10 years ago. And if you can believe it, GM still has nothing to compete with it. Bob Lutz once said that hybrids is just a Toyota PR stunt. And per GM, the new Volt will be a money loser for quite few years. So how does Toyota make money on the Prius? Because they were willing to invest in it as a way to learn about the new technology. Like GM should have done with the EV1, instead of killing it. Who Killed the Electric Car?
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