Billmon: General Morons

I meant to post this bit from yesterday's Wall Street Journal, but got sidetracked. It's a sharper commentary on the hopeless condition of U.S. energy policy (not to mention the country's largest automaker) than anything I could come up with:

General Motors is pinning its turnaround on a series of new full-sized SUVs -- the very models whose sales have fallen as gas prices have climbed. GM previewed the redesigned Chevrolet Tahoe and several other 2007 models last week.

Granted, when it was planning the 2007 model year, GM couldn't have foreseen that twin hurricanes would play havoc with U.S. oil production and refining in the fall of 2005. But the trends in global oil supply and demand have been reasonably clear for several years now.