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Abstract

Rising oil prices always raise global concern and alarm, both for the governments and also for the common man. But it means something more for the US since it is the biggest importer and consumer of oil in the world. Economists forewarn that if the US doesn''t wake up to this, the common man will be left with two options, feed their cars with oil or feed themselves with food. Nevertheless experts have said that, those vehicles that run on alternate fuels like hybrid cars could mitigate the problem of oil dependency to some extent. Even though the hybrid car market in the US is in its nascent stage, the people concerned were very much optimistic that the cars of the future would be hybrids. This case discusses the perils and the panacea, to the problem of soaring oil prices that seriously affects the US.
Location:
Industry:
Other setting(s):
2006

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Abstract

Rising oil prices always raise global concern and alarm, both for the governments and also for the common man. But it means something more for the US since it is the biggest importer and consumer of oil in the world. Economists forewarn that if the US doesn''t wake up to this, the common man will be left with two options, feed their cars with oil or feed themselves with food. Nevertheless experts have said that, those vehicles that run on alternate fuels like hybrid cars could mitigate the problem of oil dependency to some extent. Even though the hybrid car market in the US is in its nascent stage, the people concerned were very much optimistic that the cars of the future would be hybrids. This case discusses the perils and the panacea, to the problem of soaring oil prices that seriously affects the US.

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Location:
Industry:
Other setting(s):
2006

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