The New York Post reports:
Having invested heavily in luxury electric automakers Tesla and Fisker, the Obama administration is now putting the screws to their gas-engine competitors, Porsche, BMW & Co.There more to this scam:
In its regulatory plot to make the gas engine go the way of the incandescent light bulb, President Obama's EPA isn't just mandating 56 miles per gallon by 2025 -- effectively creating a standard only hybrid electrics can meet -- but mandating harsh fines for companies that make engines the agency doesn't like.
"Future US government fuel economy regulations could saddle auto makers with steep fines or even bar the sale of certain models," reports The Wall Street Journal's Sharon Terlep. "Violations of proposed government standards could cost auto makers up to $25,000 a vehicle beginning in 2016, up from current levels of $5 to hundreds of dollars per vehicle."
Since 2009, Washington has "invested" more than $100 billion in these firms to realize Obama's dream of a "green" America. Billions have been targeted at lithium-ion auto-battery suppliers, including $250 million for A123 Systems, $160 million for Dow and $150 million for LGChem -- as well as $600 million total for GM, Chrysler and Ford.Strongman Obama was to subsidize to inefficient. This is the economics of national socialism.
Those manufacturers are dependent on federal cash -- and the federal purchase of electric vehicles -- to justify green manufacturing. Earlier this year, Obama mandated that the entire 600,000 federal vehicle fleet must consist of hybrid electrics. His administration, in other words, is mandating an artificial mpg standard to guarantee a market for its "investment."
