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And in response, consumers are going smaller and smaller. So is Detroit.
Ford has already slashed its SUV and pickup productions, and now General Motors, the country's leading automaker, is following suit, even considering selling its Hummer brand, those once-coveted symbols of swagger and success.
Our action-hero governor, for example, owned a fleet of them, but you sure don't see him driving them anymore.
Now it's all downsize, all the time. And the question is: Will it last this time? Is this a genuine paradigm shift?
After all, we've been here before back in 1973, when OPEC drastically cut its oil exports and the price of gas shot up...
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