An Idea For The Auto Industry Bailout

Posted by: Ed Phelps
Date Posted: November 14, 2008

Here's a thought on how to rescue GM, Ford and Chrysler from their imminent failure, have the cash rich oil companies - who they have worked so closely with over the years to impede implementation of alternative fuel technologies - write the check.

I mean they have suppressed development of alternative fuel technologies, and played a key role in making sure the 3 billion gallon a week gasoline business continues to power their vehicles. This has profoundly contributed to the making of trillions of dollars for the oil companies. It seems only fitting that the key benefactors of their gas only policy, flush with record profits, pay the bill to keep them going.

The story of the well woven conspiracy to kill electric cars is well documented in Chris Paine's film "Who Killed The Electric Car". Chris is among a handful of folks who leased the EV1 from GM until it was confiscated in 2003. Chris subsequently bought a Toyota RAV4 EV, the first full production, all electric vehicle offered for sale. He still drives it today, which along with the success of the toyota Prius, pretty much debunks the rhetoric that electric batteries are not ready for mass production.

Check out the Who Killed The Electric Car web site for more information, and pay attention to the bailout proposals. I propose that if the taxpayers are going to fund any company's survival it should come with terms and conditions in the public interest. Like mandates for the production of electric vehicles and fair and profitable terms for return on investment with clear guidelines on the use of any profits.

And for all the capitalist purists out there, no sweat - let the oil companies or anyone else in the private sector bail em out. They made the calls and now they must pay the price.

Next Week On BlackPolitics.com - Ed Phelps - Election 08' - The Aftermath

Did You Know?

The wealthiest 10 percent of the U.S. population - 12 million Upper Middle Class, Affluent, Super Affluent and Wealthy households (35% of the estimated 105,480,101 American households in 2000) – generate fully 50 percent of all U.S. retail spending, and account for $4.1 trillion in annual consumption.

Source: The Annual Survey of Affluence and Wealth in America 2007

By The Way...

Secret Service Code Names:
Barack Obama - Renegade
Michelle Obama - Renaissance

John McCain Accepts the Republican Party Nomination

Watch the historic speech...

Watch Sarah Palin's Speech

Barack Obama Accepts the Democratic Party Nomination

Watch the historic speech...

Watch Joe Biden's Speech