The Ethanol Papers - Paperturn manuscript - Flipbook - Page 53
The Gasoline Companies Should Fund
the Big Three Bailout
Making the Case for Not Bailing Out the U. S. Car Companies
Is America Allowing the Big Three to Fail or Have the Big Three Failed
Originally published November 17, 2008
A few weeks ago, Congress approved a $25 billion aid package to the American
car companies to help them design and build the vehicles of the future; cars
and trucks that would utilize alternative fuel propulsion systems.
You’ll recall that around the same time that they agreed to provide this aid package to the carmakers, Congress debated and approved two other aid packages
(one to insurance company AIG, the other to the banking and Wall Street firms
that made such a mess of the financial and housing markets). These two bailout
packages amount to about $800 billion.
Now, there is a movement afoot to allow the carmakers to shift the focus of the
$25 billion alt-fuel vehicle aid package (from helping them create the next generation of alt-fuel vehicles to using the funds to shore up their poor general