General Motors CEO: oil has peaked


THE world’s biggest car maker, General Motors, believes the global oil supply has peaked and a switch to electric cars is inevitable.

In a stunning announcement at the opening of the Detroit Motor Show yesterday, GM’s chairman and chief executive officer, Rick Wagoner, said ethanol was an important interim solution to the demand for oil, (editors note: Ethanol is a really bad idea, read here if you want to know why) until battery technology gave electric cars the range of petrol-powered cars.

“There is no doubt demand for oil is outpacing supply at a rapid pace, and has been for some time now,” Mr Wagoner said. “As a business necessity and an obligation to society we need to develop alternate sources of propulsion.

“So, are electrically driven vehicles the answer for the mid- and long-term? Yes, for sure. But we need something else to significantly reduce our reliance on petroleum in the interim.”

GM is working on an electric car, the Volt — due in showrooms in 2010 — but delays in battery technology have slowed its development.


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