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Oil Companies Bail Out Auto Industry... |
... That is what the headlines should read:
OIL COMPANIES TO BAIL AUTO DESPERATE AUTO INDUSTRY
Would make sense, right?
When this crossed the wires, I was not surprised and actually happy that the faucet had finally been turned off:
Breaking News from ABCNEWS.com:
No Deal: Auto Rescue Bill Fails in Senate [10:50 PM EST]
For more, go to abcnews.go.com?CMP=EMC-1396
Makes Business Sense
Now besides the greedy fact that them SUV's suck up tons of oil, that they produce, there is a more logical and grounded reason. Their profits (the oil industry giants) have been soaring and at record highs. Whether it is Shell, Exxon Mobil Corp or BP, profits are way up there- in other words, they could afford to throw such a life-line. Plus, congress is always complaining that they are making too much off of the cost of our gas (That is BS, it is free trade, but anyway.) and that they should lower prices, be more watched. In other words, the oil companies owe us, says Washington a few months back.
Here is the perfect marriage. Washington and congress can show that they are finally getting the oil companies to do something good, the auto companies can get a bail out and the oil companies keep the catalyst of their revenue over the last 100 years, America's famous auto industry, running- they would be hero's. Yes, they may have to arrange some private funding from, ehh BANKS, but I thought that is why WE bailed BANKS out in the first place...
So come on big oil, come on politicians, let's get the private money flowing, like a free market economy should encourage.
Thanks Pat for the idea!
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