Monday, January 09, 2006
A story by Tony Van Alphen in the Toronto Star reports that Ford Motor Co. chief executive officer Bill Ford told reporters at the North American International Auto Show that long-term prospects for adequate supplies of world oil or assurances that it will be available are "bleak."The story continues:
"It is very hard to envisage a world in which oil either becomes more plentiful or produced in a more geopolitical stable part of the world," Ford said.
Ford, who has been steering the Detroit-based auto giant toward alternative fuels in recent years, said regardless if oil prices remain stable, the auto industry is moving away from gasoline-powered engines.
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