Obama Poised to Destroy Automobile Industry Once and for all

I for one and willing to give Obama a chance. Certainly I have deep concerns about some of the rhetoric he used in his campaign, but given some of President Bush’s relatively pro-market rhetoric which did not result in sound economic policy, I was/am rather willing to take a wait and see perspective. Unfortunately, one of Obama’s first proposals as president is absolutely terrible and, given the economic realities facing the nation and in particular the automobile industry, will go a long way to preventing a recovery, thus pushing more American workers into unemployment lines.
Obama’s proposal is outlined in this article, but to summarize, it would allow California and more than a dozen states to impose tougher auto emission standards on carmakers to fight greenhouse gas emissions and new fuel-efficiency requirements to cover 2011 model year vehicles that would require the auto industry to boost efficiency by 40 percent to at least 35 miles per gallon by 2020. The firm IHS Global Insight estimates that these regulations would drive up the price of a new car by $2,000 to $10,000 per automobile. Driving up the price of a new car by 50% or so hardly seems to be an economic stimulus for America, but given Obama’s radical views on energy and global warming, it is hardly surprising that one of his first proposals is to lash out at a struggling industry.
For more on Obama’s radical views on global warming, check the following short video out from our friends at the Citizens Alliance for Responsible Energy.