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Obama Refused Auto Bailouts Due to Lack of Green Initiatives?

Barack Obama

Was it GM and Chrysler’s failure to fully address Obama’s environmental plans for the auto industry that prevented further bailout funds? Both Chrysler and GM had submitted plans detailing how they’d use the funding to help salvage their companies, however both  sets of plans were deemed “not viable.”

Reportedly, among their reasons was that neither planned on going green enough. The Obama administration laid out a “Path to Viability” for both companies, which emphasized allocating resources towards developing and selling fuel efficient vehicles.

The “Path to Viability” laid out by the Obama administration states, “Industry financial analysts and industry experts are nearly unanimous in their views that, to be competitive in the decades to come, auto companies will need to transform their processes and products to improve efficiency, reduce costs, and offer higher quality, more fuel efficient fleet.”

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