Oil Producers Admit to Sabotaging Alt Fuel Efforts
By Marc J. Rauch
Exec. Vice President/Co-Publisher
Originally published Dec. 10, 2008
There was supposed to be $25 billion for the American carmakers to tool up for future fuel/vehicle production. It's what the auto companies asked for, it's what Congress approved. Then, as if they suddenly realized that if they took that money that they would actually have to produce the future vehicles that the loans required, the Big Three announced that they needed more money, lots more, and not for re-tooling for the future but to basically pay off old debts.
Now Nancy Pelosi, the country's number one enemy (by my estimation), and her comrades who don't want to anger millions of UAW voters have come up with a package of about $14 billion to help GM and Chrysler stave off bankruptcy (Ford, who has suddenly discovered it doesn't need a cash infusion, will presumably not take part in the ransom). But the big question is what will the $14 billion be used for, other than to pay off past debts? No re-tooling, no new technology, no new environmentally-free developments, nothing to help us get rid of foreign oil or even our domestic oil pigs.
And meantime Prince Whozimawhatcess from Saudi Arabia makes an appearance on 60 Minutes to tell Lesley Stahl (what we all know anyway) that they will do everything they can to defeat all measures to end our addiction to oil. To top it off, even with the price of oil plummeting (by comparison to the absurd prices of last summer) to the mid $40s per barrel, they continue to earn nearly 5,000% profit on each and every barrel of oil they suck out of the ground. OPEC continues to sucker-punch us as the recent price-drop for gasoline results in renewed interest in gasoline-guzzling cars and trucks.
To watch the Saudi oil creep for yourself on CBS's 60 Minutes CLICK HERE.
But wait, I'm being way too harsh, after all Congress or the White House, or both, will soon be appointing a CAR CZAR to oversee everything. Oh goody, the incompetents running the government are going to appoint another nincompoop to watch over how the $14 billion will be wasted. Hey, why not take a lesson from the Illinois governor and sell the position to the highest bidder. Maybe we can sell the position for $14 billion so that the whole program pays for itself. Caroline Kennedy seems anxious to get into government service. Since she has no qualifications or public mandate to be New York senator, she could bring her lack of credentials and legitimacy to the role of Car Czar. She does have the “Kennedy name” and her family is rich; they might be able to come up with a pretty good amount of money. What about John Kerry, his wives are loaded? He didn’t spend the entire family fortunes four years ago; let’s give him a shot at the job.
Nah, on second thought just get one of the dopes from the FCC, they have tons of mismanagement experience and they already know the double-talk federal agency lingo.
If it sounds like I’m pissed-off it’s because I am. And I still say that if the car companies need money to continue making gasoline-powered vehicles that the money should come from the oil producers/refiners/distributors. They’re the only ones benefiting from this farce; they might as well pay for it.