Automakers said Monday that they were working toward President Obama’s goal of reducing fuel consumption, but rapid imposition of stricter emissions standards could force them to drastically cut production of larger, more profitable vehicles, adding to their financial duress.
Adding to their financial duress? I thought "Job One" was to repair the ailing economy. This seems like a harebrained way to do it. The Government continues to bury the auto industry in new regulations with one hand while trying to bail them out with the other. Workers lose, consumers lose, communities lose. The only winner? Government bureaucracy, of course. Mark my words, if the new emissions and fuel economy standards go into effect, the only way the auto industry will be able to sell these cars will be at drastically higher gas prices. Steven Cho has already said he'd like to see a punitive gas tax and with Carole browner leading the way will anyone be able to stop them? Tim Geithner? John Dingell? Not a chance. But hey, they're doing it for our own good. We'll only have to wait a thousand years to see the benefits!