I know that gas prices are hovering around $4 a gallon, and that the feds are having to bail out mortgage companies and banks because of their lending practices, but isn't this a good thing overall? There are technologies out there to fuel existing cars with hydrogen but the auto manufacturers etc ignore these technologies as they keep on keeping on....hoping nothing changes except adding more cup holders. These kind of recessions force the consumer to take a good hard look at things and in turn forces the manufacturers to adjust to their needs. To long we have been dependent on foreign oil, and for that matter, too long we have been dependent on oil period, it is time we start looking for alternative fuel sources that exist and put our money and research into improving those instead of just getting better at drilling for a dwindling resource like Oil. Speaking of Oil, it is actually a renewable resource, there is a company that can turn anything to Oil and it has been embraced in Europe more quickly than here in the USA..... Funny how slowly we as consumers are to forcing change in the way we do things......auto manufacturers have gotten lazy, as have oil companies, they stopped trying to move forward and basically milked the consumer for everything they could over the last 20-30 years. I view this recession as a wakeup call, something that may radically alter the way we get around in our daily lives......and while it may hurt us in the pocket book at first, if it helps us get a cleaner planet, or better alternative fuel sources, then we are better off in the end. I sort of liken what is going on to when Congress came out with some emission standards in the 80s.....US auto companies were up in arms saying...no way we can meet those standards, and within a year....Honda introduced a car that exceeded the new standards which had a 10 year window for compliance. I hear about new technologies all the time, where someone comes up with a new more efficient power plant like the turbine flywheel combo, but is rebuked by auto manufacturers because they would have to spend too much to retool their plants....well....too late now, time to retool or die off. We have the technology, and the will power to change, but far too often people are offered outrageous amounts of money to sell their technology....what if you came up with a car that got 100mpg, and were offered $100 million for it, or $200 million to bury it, could you resist? I hope someone has the willpower to say no and charge forward. We needed a good swift kick in the arse, and here it comes....let's hope it is a good thing in the end. DD
Wasn't this the case in the late 70's. Opec lowered their prices making alternative technology not viable and we were left with projects started that were just canceled. Have we learned our lesson?
I hope so, that is the point, people like Ben Rosen developed an alternative hybrid flywheel system that worked like a charm and was rejected by Detroit. At some point, someone needs to be Tucker and stand up against those Giants and reject the buyout offers that are sure to come so the technology can be buried. Here again is the Rosen Motors successful test drive using a flywheel turbine technology. <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/xG66JQmdMv8&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/xG66JQmdMv8&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object> DD
I've been having this discussion with a lot of people recently. In a way, I think gas prices going down below $2 again would be counter-productive for this very reason from an alternative energy sources/reduction of consumption of foreign resources standpoint. On the other hand, whether or not we can actually weather the storm and come out flourishing on the other side remains to be seen.
I just hope the recession does not turn into a depression, that would be a terrible thing for the world's economy. DD
it's a scary time right now - we have a perfect storm of weakness in consumer spending, high oil prices, weakness in the housing markets coupled with a financial meltdown. whatever it is, it's not getting better anytime soon.
Dream on.... Money>>>>>>>Innovation Find something that will build tons of new jobs, stabilize the economy, and save the environment...and then rest on the 7th day . Recent history has shown that...nobody cares. F*** the next generation.
No doubt, but if there is $$$$$ in alternative fuel sources because current ones are too high, then you get the innovation like Hydrogen power from United Nuclear in my original post. Check that link out, they have been running a Corvette for 10 years on hydrogen and Gasoline.....and it switches seemlessly.....pretty cool tech. DD
as long as people have jobs imo. great depression wasn't about the crash, as much as it was about soup lines.
Without another catastrophic event, I don't think it will. But if the U.S. or Israel were to bomb Iran or something like that, all bets are off.
In addition to blaming the U.S. for consenting, Iran will "use oil as a weapon". They will also make sure Iraq goes up in flames. The global economy will be in serious trouble as the price of oil explodes. The increased hostilities with China and Russia, both of whom will be incensed by Israel and by our defense of their actions, won't help things. I could go on and on but don't want to derail your thread.
DD..off topic...just out of curiosity... Aren't you 40 with kids, how do you manage to find time to post on clutchfans so often! No disrespect intended, i know fathers are really busy
I retired 2 years ago.......but am now starting a new company, when the funding comes in, my post count will drop. DD
I like the OP's optimism, but I think you underestimate the role of greed in our economy. Technical innovation has never been a problem. Getting companies to see past a couple of quarters ... good luck with that
At this point established/publicly traded companies aren't a very good source for innovation since they're legally bound to be stuck in the shareholder pleasing/quarterly earnings report-generating cycle. better off to start fresh with venture capital and owning your own inventions.
Tough love can lead a junkie to rehab or to suicide. I think the US economy is just to big and the world economy too intertwined and counter balancing for things to go under. But cheap credit in the US housing market was the primary fuel for the world's recent economic expansion. We will probably get a major slowdown and a step back in the overall standard of living that could last a decade.
