To Bailout Or Not To Bailout?

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Monday, November 17, 2008
Support Electric Cars, Let the Big Three Fall

Did you know over 3 million jobs will be lost if the Big Three Fail?

As a clean energy supporter and free markets advocate I say SO WHAT!

Not because I am a heartless soul, I do understand the human impact

that will be caused by the collapse of these dysfunctional companies

but because I have an insider's view of the huge opportunity in

terms of vehicles that are very efficient and take advantage of

renewable energy, they're on the market today and getting better

everyday.

The Big Three automakers (GM, Ford and Chrysler) should not get

bailed out because their actions are the reasons why the automakers

are in the position they are in today. Some people don't know, but

GM released an electric car called the EV-1 back in 1996 which could

only be leased with a clause in the contract making it impossible

for the lessee to ever purchase the car! In 2003, GM decided to

cancel the electric vehicle project and destroyed their fleet of

electric vehicles. According to GM's CEO Rick Wagoner said the worst

decision of his tenure at GM was, "axing the EV1 electric-car

program and not putting the right resources into hybrids. It didn’t

affect profitability, but it did affect image."



In 2007, GM R&D chief Larry Burns stated in a Newsweek article, "I

wish GM did not kill the electric vehicle project and If we could

turn back the hands of time we could have had the Chevy Volt 10

years earlier." The Chevy Volt is an prototype electric vehicle that

GM is rushing to complete, but does not know if the Volt will ever

hit the market due to GM's unstable position today.

It does not make sense..there was surging demand for the EV-1, long

waiting lists, customers begging GM to buy the cars, but the

automaker refused. Any savvy Business man would take the customer

feedback as a sign of moving forward with a project. So why are the

American automakers notorious for making fuel inefficient vehicles?

It's quite obvious the Oil Industry is in bed with the Big Three

Automakers.

The Toyota Prius Hybrid is the best selling fuel efficient car in

the US. Although full electric vehicles being manufactured by Tesla

Motors right here in the good ole USA are in high demand too. Fisker

Automotive is another company that is developing a sports Hybrid.

Electrorides is selling an Electric Mini Cooper and a very

interesting Utility Truck called the ZeroTruck, sweet an all

electric truck!



The point I'm trying to make is that there are entrepreneurial

companies out there that can create a better car, that people are

demanding today. If the Big Three fall, it would create a huge

opportunity in the automobile market in which many new jobs would be

formed, simulating the economy. People are already retrofitting

hybrids with solar panels and charging up electric vehicles from

solar electric systems. These new vehicles would also simulate the

"new energy economy". Should we bail the US auto industry out too?

Can we afford to?