Give
the Big 3 a break, Take 2
Tuesday, December 02, 2008
How
serious are we about ending foreign oil dependency?
President Elect Barack Obama made a lot of strong
statements during his Presidential campaign about energy
security and green jobs, even touting $150 billion over 10
years to develop the green economy.
$150 billion will help, but it's a drop in the bucket
needed for an energy revolution.
Not long ago, Al Gore suggested it would take $400 billion
to develop a new, national smart grid - the kind of grid
many experts claim is necessary for the widespread
adoption of electric vehicles. Perhaps a company such as
Better Place can alleviate the need for a such a super
grid for EVs, but that's a different story.
Then, we need the electric vehicles, vehicles that are
going to cost far more than conventional vehicles for
many, many years.
Yet, America isn't going to be 100 percent electric by
2020 - that's still decades away. Electric vehicles can't
be the only solution. We need to do everything we can do
today. In the interim, we need many more hybrid
vehicles, as well as programs to make every single
vehicle sold as efficient as possible with the technology
available today.
Does bankrupting the Big 3 make that happen faster? Does
it make it easier?
Yeah, yeah, yeah, I know, we've heard promises from the
Big 3 before. We're tired of GM and the Big 3 always being
about manana.
Nonetheless, each of the Big 3 has already invested
billions in hybrid and electric vehicle programs, as well
as other fuel efficient technologies, such as direct
injection, start/stop, etc. Why waste that knowledge and
investment? Besides, $30 billion is a drop in the bucket
compared to the money required to secure our energy
independence, and bankruptcy will cost far more than $30
billion as well.
Still, there is no denying that for decades, the Big 3
showed little leadership, as did Congress and most
consumers. And, the stupidity of consumers and Congress
cannot be simply swept over to automakers.
But, we don't need blame today, we need solutions.
If Detroit doesn't get it now, they never will, and
risking $30 billion in loans to give them one last chance
is far less than the costs of just bankrupting the Big 3
today.
So, I say we give the Big 3 a break. A new Congress. A new
President. And, hopefully, a new Detroit. Now is time for
hope, not hate.
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