Thursday, December 4, 2008

Auto bailout


The only compelling reason would be to save the jobs of thousands of people. But workers losing their jobs seems inevitable anyway if these companies don't mend their ways. Time after time, we have been warned about global warming and the depleting oil resources. And what do these companies do? They churn more and more SUVs and minivans. Did they actually think people would continue to buy them despite the soaring gas prices? Now that all those hummers are in parking lots with huge "FOR SALE" signs printed on them, these automakers want a bailout. I fail to understand the logic behind some of the solutions suggested to cut US dependence on foreign oil. "Drill baby drill", "we need to ask Saudi Arabia to produce more oil". Why do right wingers have this notion that oil is a never-ending resource? Don't they see that no matter what they do, they are finally going to run out of oil and will be forced to move to alternate sources of energy? And why are they bent upon destroying other life forms before they destroy earth? It is not rocket science you know? When you run out of something, you switch to a better, viable option.

I hate the fact that oil prices are now at an all time low. I say, jack the prices up so high maybe 10$ a gallon so that these morons that drive SUVs and mini trucks are forced to sell their monstrosities. And then take the money away from oil companies and use that to build infrastructure. Good public transportation is what we need now. We also need to invest in technology that will help transmit energy generated by windmills and such. Transmitting and storing this energy seems to be the stumbling block.Apparently, North Dakota alone could supply one third of the country's energy if there were an efficient way to transport the energy to where it's needed.

According to Michael Moore, who drives a Chrysler(BTW, why is he driving a Chrysler? Shouldn't he be driving a hybrid? A quick Google search only comes up with Chrysler Aspen hybrid 2009, so I assume it is not out yet.),
you could buy ALL the common shares of stock in General Motors for less than $3 billion while they want $25 billion.
Now that surely seems like a good deal! Even I, the dumbest person when it comes to money can see the gaping hole in this arrangement. But the dems give white-house an ultimatum. In my "expert" opinion, there needs to be a bailout. What we need to do is to bailout on the automakers as opposed to bail them out.

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