President Bush today met again with the top executives of the US Auto Industry. The common goals of "helping" the US auto industry is still a bit odd because the industry doesn’t want to show it is taking a bailout and the administration doesn’t want to show that it is giving a bailout to them.
The companies are committed to doubling their production in alternative-based fuel autos. The administration has been doing its part to give incentives to alternative-based fuel production from the growing of corn all the way upstreat to the ethanol production plants. The big 3 now has a goal to have half of the auto fleets able to run on alternative-based fuel by 2012.
We’ll see how this really pans out down the road, because it isn’t as easy to accomplish as one would think. This has also had no impact on the stocks of the go-to names in the alternative fuel sector and in the auto sector. Since these meetings are scheduled regularly now, it may be more and more the norm that there are no giant moves in the shares when they meet.
Jon C. Ogg
March 26, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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