Sat | Dec 10, 2016

US leaders up, down on gas

Published:Sunday | January 18, 2015 | 12:00 AM
Contributed US President Barack Obama

DETROIT (AP):

At the time of the recent auto show in Detroit, Michigan, USA, automotive industry leaders and President Barack Obama spoke about the decline in gas prices.

"America is now the world's number one producer in oil, gas. We've doubled the production of clean energy. And, by the way, you're saving about US$1.10 gallon at the pump over this time last year. Although I keep on reminding folks, gas prices, they go up and they come down and then they go up. So I just want everybody to know that you should enjoy this. Take the money you're saving, pay off the credit card or go get a new appliance, or buy a fuel-efficient car - so that when prices go back up, you're still well positioned."

- President Barack Obama

"You just have to gut it out, because the reality is over the long term gas is only going one direction, and that is up. And that's why, as a full-line manufacturer, you just have to stick to your plan of having a full product portfolio. As fuel prices go up, and they will over time, it will be a tailwind because of our hybrids and our passenger cars. So as a manufacturer, you just have to stick with it. You need to have as much flexibility as you can in manufacturing, to build what customers want. But now is not the time to panic."

- Toyota North American CEO Jim Lentz.

"We have taken a point of view that over time, prices will go up. And so to pursue these fuel-saving technologies, I believe, absolutely is the right thing to do."

- Ford executive

chairman Bill Ford.

"Fuel prices above all are going to be good. I think they're going to be a catalyst for further industry growth. (But) we know they're not going to be there forever. We've seen these kinds of swings before. ... If SkyActiv (Mazda's suite of fuel-and weight-saving technologies) was nothing but fuel economy - not good-looking cars, not good safety cars, not fun to drive - then I would be very, very concerned."

- Mazda North American CEO Jim O'Sullivan.