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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: geode00 who wrote (146487)11/8/2008 2:02:41 PM
From: Lizzie Tudor1 Recommendation  Read Replies (1) of 173976
 
GM and big oils party time with gas guzzlers is over.

It looks like the Detroit Three might get direct loans or loan guarantees totaling $25 billion, but not the $50 billion they've been requesting from Washington. An energy law enacted in December, 2007, created the low-interest loan program for Detroit but did not fund it, and some of the conditions on the money, not given much thought at the time, have risen to the fore as potential deal-breakers.

According to industry journal Automotive News, the main condition requires that the funding go to projects that help create vehicles with 25 percent higher fuel economy than comparable vehicles -- a very high bar which the Detroit Three apparently felt would never seriously be demanded of them.

Detroit car-makers are also spending huge amounts to convert truck factories into car-making plants, but these cars won't have anywhere near the 25% mpg improvement the conditions demand. In that case, these plant conversions won't qualify for the loan.
huffingtonpost.com

those losers in detroit thought that they were immune to these demands since they bought and paid for a bunch of republican corporate pimps that did things like turn the EPA into a republican lobby vehicle.

Parties over- detroit can go electric/hybrid or die.

Obama calls for one million plug-in hybrids by 2015
motorauthority.com
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