(Newser) -
Car companies are revving up work on alternative energy vehicles, responding to higher oil prices that, well, don’t actually exist just now. New cars take about 5 years to roll out, meaning the auto industry can’t nimbly react to price changes: Oil, which cost $130 a barrel just 4 months ago, now hangs close to $70, creating fears that $2.50 gas will quash demand when the cars eventually roll off the line, the Washington Post reports.
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