Renewable Auto Bailout? Part 1

admin — Sat, 20 Dec 2008 19:50:53 +0000

Gm and Chrysler have found themselves in a particularly bad spot most likely due to poor business practices and models. America is in fear of the ripple effect that failure of one or more of these companies will have. Almost all politicians and economist have stated that the failure of these companies would be devastating not only to the economy, but also to American national security. At the same time according to CNN in November, 75% of Americans were against the bailout. Although things do not look good whether we give them the funding or not, it doesn’t have to be all bad news. On the 19 of December we heard that Bush was giving GM and Chrysler 3.5 billion each, and requiring a viable business plan in the following months.

Congress will soon find themselves at a unique crossroads with GM, Chrysler and Ford. This is a clear opportunity to move these companies into producing more fuel efficient and electric vehicles. Already GM created the EV1 in the late 1990’s, an electric vehicle capable of traveling at highway speeds and could be driven120 miles between charges. The stipulations that surround further funding to the Big 3 can very well change the world, the environment, and greatly reduce our dependency on oil. If we must bailout companies in the open market, and many say that we do, it is the obligation of the lawmakers and decidersto make this as much of an investment for our future as possible.

Renergycafe will continue to follow the auto bailout as it unfolds

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Renewable Auto Bailout? Part 1