November 7th, 2008

American automakers to be
born again as Green
“gov’t-sponsored entities”?

The President Elect met with his econoteam and then answered press questions for the first time today.

Meanwhile the people running GM and Ford told the world that time is running out.

Brusque types are saying “Let them go.” Down the drain.

But the employment consequences nationwide would be catastrophic, and it’s clear that Hammerin’ Hank Paulson, after fucking the globe royally with Lehman, is on the case.  A Treasury spokesman indicated that some of the TARP $700 billion might get thrown over the automakers to keep them dry awhile.

The full resolution may be nationalization (perhaps through the equity-kicker provisions of the TARP) — leaving something like Airbus in Europe:  a unified quasi-nationalized auto company.

Such an enterprise could be effectively directed by the incoming Donkey regime to the ends often indicated across the campaign years: a native auto industry fully dedicated to green cars.

Similar initiatives were crushed by the Reaganites immediately upon assumption of power in 1981, as they shut down Jimmy Carter’s Energy Department in support of the Oil Mafia status quo ante.

It illumines American democracy to look back across that expanse of time — lost time — and to think that it may take the triple whammy of high oil prices, a ruined financial system and bankrupted Ford and GM to finally pry loose the Oil Mafia’s grip on Washington.

(It’s often left unsaid that the core of the OM’s political power these many decades has been the Pentagon — which cannot run its tanks and aircraft on natural gas or the sun or the wind or nuclear power.)

The first Earth Day was in 1968.  Everything in the way of knowledge needed to act on our energy problems was known in the wake of the oil crunches of the 70s. Instead we got Reagan.  This time … We shall see.

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