Tuesday
Dec092008
Automakers must "transform" energy, efficiency
Tuesday, December 9, 2008 at 1:31PM
Chairman of the House Select Energy and Global Warming Committee Edward Markey (D-Mass.) said that U.S. automobile companies are in trouble because of "their inability to move from Car 1.0 to Car 2.0 over the past half century. A business model premised on bigger cars, wider highways, and more oil is a failed equation."
At a hearing to discuss the potential automobile bailout's effect on energy independence, Markey said that these car companies should "use this moment as an opportunity to transform." He felt that "innovation and technological change over the long term" must be made a priority in the future for these companies.
The automobile industry is a "very cornerstone industry" in the U.S. said Rep. Candace Miller (R-Mich.). If they went bankrupt, Miller said it would have "a catastrophic effect on our economy." Miller praised the automobile industry as a lynchpin for creating the U.S. middle class.
Joan Claybrook, President of Public Citizen, felt that laws must be put in place to demand technological and energy-efficient improvements to ensure that auto industries sufficiently attempt these initiatives. She stated that the fuel efficiency required of 35 mpg by 2020 is a "meager provision."
"We're going to have these vehicles one way or the other," said Peter Morici, Professor of International Business at the Robert H. Smith School of Business at the University of Maryland, referring to more energy-efficient and higher gas mileage automobiles. He felt that the only question is whether these improved vehicles are going to be made in the U.S. or not. Morici thinks that these companies should be bailed out only if they agree to share their patents with their competitors for a small price.
At a hearing to discuss the potential automobile bailout's effect on energy independence, Markey said that these car companies should "use this moment as an opportunity to transform." He felt that "innovation and technological change over the long term" must be made a priority in the future for these companies.
The automobile industry is a "very cornerstone industry" in the U.S. said Rep. Candace Miller (R-Mich.). If they went bankrupt, Miller said it would have "a catastrophic effect on our economy." Miller praised the automobile industry as a lynchpin for creating the U.S. middle class.
Joan Claybrook, President of Public Citizen, felt that laws must be put in place to demand technological and energy-efficient improvements to ensure that auto industries sufficiently attempt these initiatives. She stated that the fuel efficiency required of 35 mpg by 2020 is a "meager provision."
"We're going to have these vehicles one way or the other," said Peter Morici, Professor of International Business at the Robert H. Smith School of Business at the University of Maryland, referring to more energy-efficient and higher gas mileage automobiles. He felt that the only question is whether these improved vehicles are going to be made in the U.S. or not. Morici thinks that these companies should be bailed out only if they agree to share their patents with their competitors for a small price.
Protesters Want To See BP's CEO Prosecuted for Criminal Negligence
Public Citizen and seven other public interest groups protested Friday outside the BP headquarters in Washington D.C. Robert Weissman, president of Public Citizen, called for a boycott of BP because of the company's actions.
"I am sure that they are working very hard to protect this company from being held responsible and to undermine efforts in Congress and at the White House," said Weissman.
The protesters asked for the management of the company to come down to the street to meet the protesters. Several of the protesters want the CEO of BP, Tony Hayward, to be arrested.
"People are outraged, and we are here to let BP know it," said Weissman.
The protesters started the demonstration outside the headquarters and tried to get into the building to talk to the management but were stopped in the lobby. The White House announced Thursday that it soon will be sending a 69 million dollar bill to BP in order to repay the taxpayers for federal funds spent during the oil spill.