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Skeptic says:

6 weeks ago

It's not absolute price level, it's rate of rise.

If gas goes to $4.50/gal tomorrow (and stays above that point) people will abandon their Hummers in place.

If it goes to $4.50/gal over the next year or 18 months, then ... meh. People will likely buy higher mileage cars, but not until they're usual "tech refresh".

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