Obama’s Vision for Auto Industry Tested by Economy, Gas Prices
President Bush recently announced the terms of the $17.4 billion in assistance for the auto companies, but President-elect Barack Obama issued a stern warning that â€śThe auto companies must not squander this chance to reform bad management practices,â€ť New York Times reports.
The incoming Obama administration has a vision for an energy-efficient auto industry. Obama has said he would provide up to $3 billion to Detroit auto companies and their suppliers so they can retool their factories to produce smaller and more fuel-efficient vehicles. But with gasoline prices dropping again, it is unclear whether consumers will want smaller cars.
In addition, Obama may have to make compromises in pursuing an energy-efficient auto industry because he must juggle other priorities like boosting the broader economy.
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- Anaerobic Digester Project Starts on Long Island, NY
- Seward to Use Resurrection Bay for Heat
- An Iconic Structure Gets Certified Silver By Leeds
- Sioux City, Woodbury County Getting LED Upgrade
- Buzz Oates Group Mounts Big LED Retrofit Project in Sacramento
- ORNL Building Efficiency Software Available as Open Source Code
- General Mills: Weâ€™ll Invest $100M to Reduce Greenhouse Gas Emissions
- Oregon Correctional Institution Saves with LEDs