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See no exhaust pipe! 0-60 3.6 seconds! Cost $4 per 240 mile charge to run!

Tesla Roadster: See no exhaust pipe! 0-60 3.6 seconds! Cost $4 per 240 mile charge to run!

I think the whole aim of the car industry has been to keep us on oil – and so for years they have been suppressing any and all viable alternatives. While we advance in leaps and bounds in computers and technological industries — aside from the outer cover and some new electronics – cars have virtually stayed the same. In today’s technological world this is unacceptable.

Not surprisingly sympathy is thin on the ground for the Big Three automakers – and in order to survive they are going to have to decouple from the oil industry. This is where policy comes in – as the Bush administration has been all about oil – and how to get us all to spend more on it – he got his wish – but it was a bit like the king who touched his daughter and turned her into gold. Up until recently the whole aim was to make us believe – that we needed more and more of this oil – this coming directly from the addict-in-chief. The mindset is so bad – that at the RNC you had Republicans chanting Drill Baby Drill, because the thought of a technological way around the oil – is unthinkable to them. 50 years down the line they still see us using the same technology – needing roughly the same amount of oil. Palin – an oil addict and others like herself – first need to line up the belief that we need this oil and we can not do without it – for a long long time – then they place themselves in the position to be the providers of that oil. Even better than the measly cash that a guy would make as a lobbyist. This is like Beverly HillBillies’ cash – no wonder they are addicted.

But here is the trap for the car industry – The Big Three – Republicans are into little or no government intervention – their philosophy is bankruptcy would do them good – ironically the Drill Baby Drill – was for the hungry engines the Big Three were making – that they refused to modernize [in ways that inventors have done time and time agian in their garages] – more a Republican-conservative idea – oh the betrayal!

On the other hand the Democrats’ position – is that the Big Three have been too arrogant for too long – and they are actually holding up real progress – if you want us to bail you out – then we are going to have to see some electric cars, some hybrid/electrics and cars that are going to largely bypass the burning fossil fuels to run. The oil addicts should be getting really uncomfortable – but these are the same guys who are willing to let the car companies fail.

Alternatively, by letting the car industry collapse – the Obama administration can then divert more funds to the smaller car industry – which are willing to produce the cars of the future – like the Tesla.

Porsche (eRuf Model A) the first fully electric version of the car.

Porsche (eRuf Model A) the first fully electric version of the car.

This whole bailout/loan deal with the auto-industry will hinge on what kind of plan these automakers will come back with in two weeks – we can only hope that it will not be a plan to help the oil industry – but one with a view of the future – that will instead help themselves and the people who will be driving their cars. I’m all for the fully electric SUV. Who says we have to make them small – just energy efficient. Today the best car batteries can take us 200 miles/300 km on a single charge – tomorrow 400 miles/600 km on a single charge? We may end up having to charge our cars once a week – today it cost 2¢/mile to run – tomorrow it might 2¢/10 miles? If the present car industry isn’t willing to do it – perhaps we need an alternative car industry.   


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When it comes to the environment, John McCain only has the interests of Big Oil at heart. That’s why he has over 22 Big Oil lobbyists advising him. That’s why he favored lifting the moratorium on off-shore drilling — a move that prompted Big Oil to donate over $1 million to his campaign. And thanks to the League of Conservation Voters, we’ve got the proof!

 

Jokes: Bush went in as a Social Conservative and came out as a Conservative Socialist.

There are two problems here – one is the folding banking industry around the world – and the other is that the weakened banking industry would allow – outsiders and mainly sovereign wealth funds to come in a cherry pick the banks and or industries that they want at rock bottom prices – these very powerful sovereign funds are mainly coming from three areas – the Middle East, Russia and China. Their investments at a time like this would give these areas undue influence over US and EU banking and insurance industries – but more their investments will give these countries or regions undue influence over US and possibly EU policy. With undue Middle East influence we could all be eating Halal. Western governments had to act.

To blame – of course are a number of things – but one is George Bush’s oil policy. Since the US only has 3% of the world’s oil – to fund its oil usage – it has to get oil from somewhere else. Saudi Arabia held almost all of the cards up until the war in Iraq – and the removal of Saddam Hussein – allowed the US create a major oil player in Iraq. But the cost was enormous. Yesterday 40bn barrel Iraqi oil contracts were put on sale in London. Drill Baby Drill to Big Oil. The problem is that the cost of the war could have funded the industry to build solar panels for every roof – in sunnier areas. And the new research in a whole host of energy alternatives – which would one day become fixtures – or until we develop the new technology.

If you listen to McCain – and Palin – Russia is ready to attack – but the real deal is the laying and operation of a gas pipeline through Georgia. So like Iraq – likely there will be a military build up there – against the evil Russia – to secure the oil or gas coming from there.

Under Bush’s policy vast amounts of money is being transferred to the Middle East – vast amounts of money is going into wars for oil – under “security” – Condi recently had a meeting with the Libyan leader – with the intention of vast amounts of US money flowing into Libya.

While in the US infrastructure crumbles, while the people in the Western world are at the whim of dictators – like Chavez, or Russia which clearly is putting its interests first. And in the Middle East – which showed itself when George Bush didn’t speak at the Israeli Kenesit – as the German Chancellor Angela Merkel did- because – he had to ask the Saudi’s to lower the price of oil – and as a part of that deal – he slung them some nuclear technology.

The oil game is a crazy game and it is leaving the US broke and at a disadvantage. The advantage and the money are in new generation of ET energy technology – one where for example cars are run on magnetism (magnetic motor) – and more efficient battery technologies. What would it mean to the US and EU countries – if they could get a mechanized factory – a factory of robots – to work around the clock without having to take into account the cost of energy. With this we can compete with China. There would be no need to ship jobs abroad.

The candidate with real foresight is Barack Obama. He’s thinking.

President Bush, right, smiles during the G20 ministerial meeting at the International Monetary Fund Saturday, Oct. 11, 2008 in Washington. From left, Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson, and Bush. (AP Photo/Evan Vucci) (Evan Vucci - AP)

President Bush, right, smiles during the G20 ministerial meeting at the International Monetary Fund Saturday, Oct. 11, 2008 in Washington. From left, Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson, and Bush. (AP Photo/Evan Vucci) (Evan Vucci - AP)

The U.S. government is dramatically escalating its response to the financial crisis by planning to invest $250 billion in the country’s banks, forcing nine of the largest to accept a Treasury stake in what amounts to a partial nationalization.

News that European governments also planned to take stakes in their banks and anticipation of new U.S. measures unleashed a tremendous surge in U.S. stock prices yesterday, with the Dow Jones industrial average soaring to the biggest percentage gain since the 1930s, up 11.1 percent. It ended 936.42 points higher, the largest point gain ever, just days after the Dow had its steepest weekly decline in history.

The Treasury Department’s decision to take equity stakes in banks represents a significant reversal, coming just weeks after Treasury Secretary Henry M. Paulson Jr. had opposed the idea. In a momentous meeting yesterday afternoon in Washington, Paulson, flanked by top financial regulators, told the executives of nine leading banks that they needed to participate in the program for the good of the national economy, two industry sources said on condition of anonymity because they were not authorized to speak publicly.

The government’s initiative, which was to be announced this morning before the markets open for New York trading, is part of a wider plan that goes beyond the $700 billion rescue package approved by Congress earlier this month. The Federal Deposit Insurance Corp. is also set to announce today the launch of an insurance fund to guarantee new issues of bank debt. It will provide unlimited deposit insurance for non-interest-bearing accounts, which are widely used by small businesses for payroll and other purposes.

In pressing the bank executives to accept partial government ownership, Paulson’s message was clear: Though officially the program was voluntary, the banks had little choice in the matter. In exchange for giving the Treasury minority stakes, the nine firms would jointly receive an investment worth $125 billion. The government would make another $125 billion available for the next 30 days to thousands of other banks and thrifts across the country.

Federal officials set conditions, telling the banks they could not raise their dividends without government permission and could not offer their executives new retirement packages, though the old packages would remain intact.

Paulson told them the moves would shore up confidence in their own institutions, spark lending throughout the system and send a message to smaller institutions that there is no stigma in accepting federal funding. Though some were reluctant, all of the executives complied.

There is a risk that banks will take the new government capital and use it to bolster their balance sheets but still not resume lending, and the Treasury is not getting any specific contractual guarantee to prevent that from happening. But bank regulators, particularly the Federal Reserve, will lean heavily on the firms receiving infusions to use the capital to increase their lending to businesses and consumers.

Taken together, the steps planned by the Treasury, the FDIC and the Federal Reserve amount to a monumental effort to jump-start the business of lending, which all but dried up in recent weeks as banks have lost faith in one another and their customers. Global markets began to melt down. Some emerging nations teetered on the brink of financial collapse.

Source: Washington Post