GM Wants Higher Gas Prices So They Can Profit More

Dan Ackerson, You Pay More & We Make Money

The GM CEO wouldn’t mind a $1 a gallon gas increase because it would increase their economy car sales which have been a boon for the company. He knows it would be hard to get through Congress, but there has been talk of charging people for gas by the number of miles we drive. How’s the hope and change working for you? “…In an interview published in Tuesday’s Detroit News, Akerson floated the idea of a $1 a gallon increase in the gas tax as a way to encourage buyers to purchase smaller, more fuel efficient cars. Greg Martin, spokesman for GM’s Washington office, confirmed that the quotes reflect Akerson’s and GM’s view. Akerson said he would support a jump in the gas tax if it came instead of tighter fuel economy regulations that GM (GMFortune 500) and other automakers will have to meet in coming years. By the year 2025, automakers could be forced to hit fuel economy averages of as much as 62 mpg. Akerson said that a higher gas tax, including an immediate 50-cent-a-gallon increase to take advantage of recent declines in gas prices, would probably make some of his Republican friends “puke.” But he said it would do more to help the environment than the pending fuel economy rules…” Read here: GM CEO Wants Higher Gas Prices For Their Profit