Letter to the editor:

Oil companies should help out Big Three

Larry Fried, Las Vegas

Fri, Nov 21, 2008 (2:05 a.m.)

Here is a simple solution to the automaker bailout:

If the U.S. automakers need a mere $25 billion, the perfect solution would be for them to borrow it from the oil companies. That’s less than the total the oil companies made in the last quarter.

Because the oil companies depend on people driving cars for their income, what better investment is there than to lend the automakers this money?

This would take the onus off the U.S. taxpayer and put it back on the free market economy. Because the oil companies seem to be the only entities making profits these days, it should be their patriotic duty to help out.

Discussion: 3 comments so far…

By uddeboda

11/21/08 at 6:17 a.m.

Suggest removal

Very good Larry, do you think they are listening
By johnevegas

11/21/08 at 7:36 a.m.

Suggest removal

I'm listening. I think the idea is a really bad one. This will NOT create an incentive to build cars that don't use fossil fuels. It will reinforce building the same stupid gas guzzlers we have now.

Honda is converting Natural Gas into Hydrogen via home fueling stations for their FCX vehicle, which gets close to 70mpg and emits steam as exhaust. AND, this is their first generation. There are 200 of these cars on the road in LA right now. Imagine where they will be with it in 10 years?

We need to get behind that type of innovation and insist these dinosaurs get with it or let them die!
By lvsundog

11/21/08 at 8:31 a.m.

Suggest removal

Larry Fried says: "This would take the onus off the U.S. taxpayer and put it back on the free market economy."

Uh, no it wouldn't. The oil companies would simply raise prices to cover their risk. Higher gas prices translates to more taxes paid.

The oil industry did not get to be so wealthy by being nice to people.