Detroit's Past Isn't Its Future

The history of Detroit is one of booms and busts. It's in a bust now but creative, forward thinking could result in the next boom

It was the most obvious question I could have asked General Motors (GM) CEO Rick Wagoner. The setting was a semiprivate interview with him in a Dallas hotel on July 10. According to oil insiders and respected oil analysts, such as Charley Maxwell of Weeden & Co., the world is likely to hit a brick wall in terms of oil supply and demand by 2015. Therefore, I asked, could Detroit survive if the worst happens and oil sells for $250 a barrel with gasoline between $8 and $10 a gallon, seven years out?

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