Is Bob Lutz correct when he says GM has the right products to compete during the gas crisis?

001 was interviewed on 'Your World with Neil Cavuto', the number one business show on television during the New York auto show about the high gas prices.

001's big concern, is that the American car companies just aren't prepared for an extended gas crisis and don't have a rich enough model offering of fuel efficient cars and trucks.

Plus, the cars and trucks they do offer are extemely weak compared to the Asian manufacturers.

After 001's interview Bob Lutz commented that GM was prepared for the gas crisis and had plenty of models that could compete, like the Chevy Cobalt!

Is he kidding?

Who on earth thinks the Cobalt is a legitimate competitor to products like the new Honda Civic?

Does he have a point or is he just having a senior moment?

We'd love to hear your comments...