Akerson: Oil price spikes are 'episodic'

GENEVA -- Had a chance to chat with GM CEO Dan Akerson prior to Opel's press conference here, and he had a "good news, bad news" take on rising oil prices.

The current spike is "episodic," Akerson said, and could vanish as quickly as it arose.

"If Gadhafi left office today, I think oil would drop $5 to $10 a barrel within two to three weeks," he said.

But Akerson added that, short-lived spikes notwithstanding, the long-term trend is for energy prices to rise steadily.

Don't get too giddy if prices dip, in other words.

25

Shares

ATTENTION COMMENTERS: Over the last few months, Automotive News has monitored a significant increase in the number of personal attacks and abusive comments on our site. We encourage our readers to voice their opinions and argue their points. We expect disagreement. We do not expect our readers to turn on each other. We will be aggressively deleting all comments that personally attack another poster, or an article author, even if the comment is otherwise a well-argued observation. If we see repeated behavior, we will ban the commenter. Please help us maintain a civil level of discourse.

Newsletters