|
Posted by Pinky Bean
on November 18, 2008 3:05 AM
|
Filed Under: Transportation |
What eco-implications could a financial bailout have on the auto industry? Environmental groups say it should be a significant priority and the money ought to be used for fuel-efficient vehicle development. Detroit is asking for a bailout similar to the one recently given to banks and insurance companies. The outlook for the industry next year isn't overly positive, with unemployment rates climbing.
These days as pennies are pinched and people constantly seek effective ways to cut costs, smaller vehicles with better fuel economy will likely become the rule, rather than the exception. Now that the era of monstrous SUVs has unofficially been shown the door, vehicle manufacturers are setting their sights on producing these smaller units that are easier on gas and in effect, the consumer.
Some environmental groups say their should be strict conditions on any bailout or loan plan thrown the way of the automotive industry, saying it's time vehicle manufacturers get behind efforts to curb climate change.
The Civil Society Institute is an environmental group urging eco-friendly conditions to any federal loans or bailout. "Just because Detroit is pleading once again for another bailout is no reason for Washington to give these companies a 'free ride'," says Pam Solo, the institute's founder and president. "If taxpayers are going to be put at risk by guaranteeing new loans, then any such new help should be conditioned on the U.S. car companies ending their campaign to frustrate state-level efforts to clean up car and light-truck emissions that cause global warming."
» WSB Atlanta