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Frank,
I would call it "Aeroblanket". As for the holes, most of those who want one of these are in very cold climates. From my experience, as long as the upper grille is open, you don't need holes in the lower grille. For those who want to keep it on year round, I would suggest one large hole on each side, just inside of the fog lights. A few large holes would be better than many small holes from an aerodynamic perspective. I am going to Home Depot this weekend to look for someting to cover a 3 or 4 inch hole.
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