Look around. It's 1973 all over again. People are driving ridiculously sized vehicles. It may be giant pick-ups and SUVs this time instead of Eldorados and Continentals like back then but it's the same thing. Now we have geo-political upheaval like 1973. Energy prices rose to meet the market. Rather than acknowledge free market forces at work, people back then blamed the Clean Air Act and PCV valves.
Yes. And they started buying smaller cars. More European and Japanese brands became popular. Oh, and of course Volvo. Our automotive companies were slow to adapt. The compacts they grudgingly offered were mostly cheap junk. And so the Europeans and the Asians got a foothold they never lost.
And still, many Americans never lost their taste for big gas guzzlers. Here we are, with the giant SUVs and pickups.
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