DETROIT (AP) -- General Motors' CEO Fritz Henderson says the company is planning future strategies around higher oil prices, betting that crude oil could eventually revisit the $100 to $130 per barrel cost.
Henderson, speaking about the future of energy at The National Summit in Detroit Wednesday, says he thinks volatility in oil and energy prices will be permanent, and that consumers already assume that oil prices will be higher.
He also says vehicle sales in China will likely surpass U.S. sales this year, making it the largest automotive market in the world.