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White 2 (2:17)
Topic(s): Auto Industry / Car Culture / Efficiency /
Government
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Video Transcript
I would say that a lot of people in the automotive debate, the
automotive energy debate, are talking past each other. I mean,
look, the car companies have not pushed technology, or many of
them, certainly the American companies, have not pushed
technology as hard as they could have. Why? Because there
really wasn't any money in it until relatively recently and
maybe not even now.
Toyota has pushed it, partly because it's consistent with
their corporate image and corporate mission, partly because
they have the money. They can afford to take the loss on
hybrid vehicles because they've got all the money in the
world. General Motors is a junk-rated credit. They can't
afford to just throw money at technology that the customer
isn't willing to pay for. The government- I think the
government has enabled what certainly the green groups would
call bad behavior by not raising the cost of fuel to reflect
its true cost in the world economy. I don't detect a great
groundswell of will on the part of the government to raise gas
taxes in order to sort of drive consumer behavior, nor, by the
way, do the car companies.
Have the consumers behaved completely rationally? Probably
not. But on the other hand, if you are a family of four or
five, or you tow a boat, or you go on long trips—and
this is, after all, a very big country—and you have the
means to buy and finance the operation of a large,
comfortable, not very fuel efficient vehicle, it's a free
country. Why shouldn't you do it? There's no signal other than
kind of the, you know, what you might call sort of, you know,
moral suasion coming from people like Al Gore, there's no real
signal to people that they shouldn't do that.
Every summer we get a little jolt, you know— oh, the gas
goes up to three bucks a gallon because of various factors
that actually have a lot to do with the structure of the oil
industry, a certain percentage of the population. including
the media, freak out. And in the wintertime it goes back down
and people go back to their normal patterns. So to change that
beyond the margin is going to take a long time—it's
going to take fundamental sort of cultural change and it's
really going to take economic change. Because at the end of
the day, buying a car is an economic choice and people do
what's in their best interest.