May 21, 2008 -- Honda to launch affordable line of hybrids in 2009
CLARKONOMICS: Your favorite penny-pincher walked to the studio today. It’s something he likes to do several times a year when the weather is nice. Clark lives only 5.6 miles from the studio and the cost to walk is free. In fact, Clark saved about $6 today by not operating his car…and he got exercise. It’s like his own Declaration of Independence from high gas prices.
The futures market is showing oil at $140/barrel. Less a year ago, we forget that oil was under $50/ barrel. There has been a massive run-up in price, especially for airlines and other transportation-based businesses.
Most people aren’t fortunate enough to be able to walk to work like Clark. But there’s always something you can do to fight back against the high prices at the pump. For example, Honda will be rolling out a huge new fleet of affordable hybrids in 2009. The payback should be very quick for buyers; the hybrid version of a car will only be about $1,900 more than the traditional gas engine version.
Nissan, meanwhile, is launching a battery-powered car in the next 2 years. They’ve partnered with NEC to make a new battery for plug-in hybrids and electric cars. It will be beta tested in forklifts, so beware if you’re an operator!
The point is there are real solutions coming. Oil was previously so cheap that we could almost be forgiven for not being more energy smart. But to paraphrase Winston Churchill, “The American people are finally getting around to doing the right thing after trying nearly everything else.”
