... but doesnt that mean  it's going to use more gas when every one is tring to save gas?

Pickuptruck.com reports:

:

Sources tell PickupTruck.com that the Chevrolet Colorado midsize pickup is going to receive a V8 next year - the same small block 5.3-liter 295-horsepower / 317 lb-ft motor that will power it's Shreveport stable mate, the 2008 Hummer H3 Alpha. Both trucks are assembled in the same Louisiana factory, along with the Colorado's midsize corporate twin, the GMC Canyon.

Asked to confirm the new engine option, GM spokespersons told us only to, "stay tuned." No other information, denial, or verification was provided.

The current 2007 Colorado offers buyers a choice of two engines: the Vortec 2900 2.9-liter inline-four cylinder rated at 185-hp / 190 lb-ft or the Vortec 3700 3.7-liter 242-hp / 242 lb-ft inline-five cylinder.

Adding a V8 to the Colorado would position it favorably power-wise with the Dodge Dakota, the only midsize pickup that currently offers a V8. For model year 2008, Dakota is getting a heavily updated 4.7-liter V8 that Dodge says will produce 290-horsepower and 320 lb-ft.

The Colorado's 5.3-liter V8 would also give Colorado bragging rights over the number one selling Toyota Tacoma (236-hp / 266 lb-ft) midsize pickup and number two selling Ford Ranger, which overtook the Colorado last month in 2007 sales volumes.

Rumors of a V8 for GM's small pickups date back to the Colorado's predecessor, the S-10 compact truck.

 

Probably will end up in the same mileage range as the current 5cyl around 16/22.  Silverado's get this kind of mileage, even the older ones w/o DOD and AFM.  Colorado is considerably lighter so it should be close to the 16/22, w/ 300HP in a 3500lb vehicle.

And even if it did use more gas, who cares?  Toyota gets kudos for the biggest, most powerful, gas guzzling engine in the Tundra.  Put a v8 in the Colorado, and even though the Dakota has had one for years, it's pick on GM for putting in what the customers are asking for.  

It will finally have some power! Now to give the rest of the truck a redesign.  

While it is about time for the Colorado to get some real opportunity at power, I doubt that the refitted 327 cid will do the job.  The specs that I have read thus far show it to be severely crippled.  However, like with all engines, there is a minimum fuel cost to its operation. GM could do well to use an alternating cylinder ignition system in conjunction with the ports.  As I have owned from the 2.8L and the 3.5 L engine Standard and CrewCab versions of the truck it would seem probable that the only version of the truck to receive the V-8 would be the crew cab version.  If GM can stuff in a 327, why not the 379 or as some of the kids would call, the 6.0L.

If GM decides to make a real truck for people who don't want to drive an M1A1 to work everyday, the Colorado is the best platform.  

There is only one way for GM and other truck manufacturers to sell more trucks that is not to make all truck buyers become contractors that require truck for work.  Adding bigger engines would not increase sale.  On the contrary building a light, compact, five door(with midgate), gas efficient truck may do the job.  

It is like there is "NO TOMORROW".
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Allen
Colorado Treatment Centers  

The idea of a 5.3 in a Colorado/Canyon isn't bad, but a little to late.  GM should have decided this a few years ago. Dodge had the right idea with the Dakota offering a V6 or V8, with decent box lengths, towing capacity, pay load and cab configurations. (A mini Ram) Timing is everything and right now the General would be better off doing a over haul on the whole truck with higher MPG ratings out of a stronger Inline 5.