Big Oil companies could bail out U.S. Automakers

by Iain Mackenzie

The White House and Democratic Congressional leaders say that they are close to agreeing on the terms of a $15 billion government rescue of the American automobile industry. This latest bailout funded by U.S. taxpayers would be directed by one or more appointees of President George W. Bush and would impose expansive federal oversight of the auto companies.

However, several years ago, GM not only cancelled its cutting edge EV1 Electric Car, but confiscated those electric cars that U.S. taxpayers had bought, and destroyed them. The EV1, was extensively documented in the critically acclaimed film Who Killed the Electric Car?

Such a wasteful act, reminds me of a similar gratuitous act against Avro Arrow in Canada. Then Prime Minister John Diefenbaker, not only discontinued the production of the most technologically advanced supersonic jet fighter in the Western World, but also had all Avro Arrows that had been built, and sought to have the plans for them, destroyed.

Arguably, if GM continued to produce this very popular, zero-emssions, car, GM, and other emulating U.S. automakers, would today be extremely financially successful today.

The documentary Who Killed the Electric Car? [excerpted in YouTube Video clips below] exposes a decision that was made in apparent league with Big Oil, to destroy advanced electric car technology.

So-called "Hybrid Cars" is an apparent cop-out to appease the Oil Industry, while seeking to appear to be "environmentally friendly".

So, why doesn't Big Oil just formally buy out U.S. automakers. Wouldn't that be a win-win situation? Big Oil's ownership of U.S. automakers could help maintain the production of gas guzzling vehicles, that maintains great commercial profits for Big Oil. Bail out money that might have gone to the U.S. automakers could then be redirected to other areas of U.S. economic recovery.

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