At the ECO:nomics conference (March 12-14), GM chairman Bob Lutz was asked about his global warming is a "crock of sh*t" statement. In the video (which you can watch below the fold), Lutz was asked why he said it and if GM investors and customers should care that he said it. Lutz did not answer the why but he explained there are a "whole bunch of motivations for doing what we are doing." These motivations may include climate change, energy independence and conservation but the common denominator is wanting to get away from oil as a primary source of energy.

Lutz was also asked will people pay for higher fuel economy? Lutz said if we see a rise in gasoline prices to European levels ($8-$9 a gallon) people will start valuing high fuel economy numbers but right now it's just a small, altruistic segment of the population. Lutz continued, saying he finds it troubling that all of this green tech adds six or seven thousand dollars to the price of the car. Lutz thinks the technological path to 35 MPG CAFE is clear; the business way, on the other hand, is covered in fog because there are no free lunches.

[Source: Wall Street Journal]

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