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Friday, July 29, 2011

Big Three Now Support Fuel Economy Standards


“Four years ago, the American auto industry was so opposed to higher fuel economy standards that executives of Detroit camped out in Washington in an unsuccessful bid to undercut them. On Friday, when President Obama is scheduled to announce even stricter standards — in fact, the largest increase in mileage requirements since the government began regulating consumption of gasoline by cars in the 1970s — the chief executives of Detroit’s Big Three are expected to be in Washington again. But this time they will be standing in solidarity with the president…. It is an extraordinary shift in the relationship between the companies and Washington. But a lot has happened in the last four years, notably the $80 billion federal bailout of General Motors, Chrysler and scores of their suppliers, which removed any itch for a politically charged battle from the carmakers.” (New York Times)

A harmony of interests in the corporate state.

FEE Timely Classic
“Uncle Sam’s False Fuel Economy” by Doug Bandow