Experts say president has little control over volatile oil prices
Tonight's third and final presidential debate is scheduled to focus on foreign policy. But in doing so, President Obama and Gov. Mitt Romney will likely address a decidedly domestic issue – gas prices.
The pros and cons of the auto bailout and concerns about the rising price of gasoline have been a political football throughout this election season. So, it should come as no surprise that the auto industry was brought up more than a few times in last night's heated presidential debate.
Republican vice presidential candidate Paul Ryan might have supported full disbursement of the U.S. Energy Department's planned $529 million loan to extended-range plug-in vehicle maker Fisker Automotive. Then again, he might not have. Ah, politics.
If you're campaigning for Mitt Romney and believe in the electrification of transportation, you're kind of between a rock and a hard place. While Romney previously had supported electric and other non-petroleum vehicles, more recently, he's shifted his focus to freedom from foreign oil through domestic, clean oil drilling. Once upon a time, after all, Romney said the Chevrolet Volt was an "idea whose time has not come."
Last week, Mitt Romney released a comprehensive energy plan. While taking a backseat to the economy and job creation, energy issues have been discussed regularly by presidential candidates Romney and Barack Obama, and their viewpoints diverge widely. In its online magazine, conservative think tank American Enterprise Institute broke out the core issues that separate the candidates:
Looking to avoid becoming a lightning rod for the Presidential race, General Motors is asking the candidates not to tour its plants until after Election Day. Ever since its bankruptcy in 2009 where it received billions of taxpayer dollars, GM has been used as leverage by both sides of the political aisle, but the automaker is hoping that by eliminating the presidential and presidential-hopeful photo ops, it can distance itself a little more from the negative "Government Motors" label.
In a U.S. presidential election season, anything can become political. Remember the height of trees in Michigan? Well, when you're dealing with such a barrage, it's sometimes good to remember that plug-in cars have been political for a long time and, despite some politicians best efforts, progress will continue.
Bob Lutz has put Republican presidential candidate Mitt Romney's numerous past comments about the automotive bailout behind him, according to Automotive News. During a recent episode of "The Kudlow Report" on CNBC, the former auto executive made it clear he now backs Romney for the 2012 presidential election, saying "[Romney] now says he was totally in favor of [the bailout] and suggested it."
With a multi-volume list of issues that a presidential hopeful could discuss, we aren't sure why Mitt Romney keeps circling back to the auto industry bailouts, but here we are again. He's lately swinging his stick at the U.S. Treasury Department for not having sold its 26.5-percent stake in General Motors, accusing it of holding back on the stock sale to avoid having to report a multi-billion dollar loss before the election.
As expected, the so-called auto bailout of 2009 has become a major talking point in the run-up to the 2012 Presidential Election. Somewhat surprisingly, however, both sides of the aisle are taking credit for the success seen by General Motors and Chrysler since the two automakers were pushed through a structured bankruptcy process.
The Detroit News reports presidential hopeful Mitt Romney believes he deserves credit for the auto industry's recovery, despite the fact that he adamantly opposes the bailout. While speaking with a Cleveland, Ohio television station, Romney said he deserves "a lot of credit" because he supported the idea of managed bankruptcy. But both President George W. Bush and President Barack Obama believed General Motors and Chrysler couldn't survive the process without backing from the United States Treas
That's right, the potential Republican Potentate is an AMC muscle car; according to the Secret Service, anyway. The Republican race for the presidential nomination is getting serious, and National Public Radio reports that the the Secret Service is stepping in to offer its protective services to the potential nominees. When this happens, code names are given to the protectees; for example, President Reagan was called "Rawhide" by those watching out for him. Mitt's new Secret Service handle? Jave
GOP Presidential candidate Mitt Romney is trailing in the polls in Michigan ahead of that state's February 28 primary, and the former Mass. Governor thinks the way to close the gap is to bash the bailout of the auto industry in 2009 that saved General Motors and Chrysler from being broken up and liquidated in bankruptcy court.
President George W. Bush recently spoke to a gathering of auto dealers in Las Vegas, saying that while he believes in the free market under normal conditions, he doesn't regret the $700 billion bailout fund used to rescue General Motors and Chrysler from the brink of collapse. Bush was quoted as saying he'd do it again, and that he didn't want there to be a 21 percent unemployment rate. The former leader avoided addressing remarks from the current gaggle of Republican presidential candidates who
If you want to know exactly what Republican presidential hopeful Mitt Romney thinks about the Chevrolet Volt, listen to his laugh before he answers a question about the car posed to him during a radio interview on WRKO in Boston recently. Romney was asked what he thought about the car, and he responded with a dismissive-sounding laugh by labeling the plug-in hybrid an "idea whose time has not come." He later explained that his attitude is proved correct by the Volt's low sales numbers. Whatever