http://www.mercurynews.com/ci_11198669?source=rss
This story was carried in the san jose mercury news and on Yahoo today.
For me it is one of the few good news items on earth at present. the following quote from the above internet article says it all.
'We believe that California, again and again, has pushed for higher levels of efficiency in our electric sector, our buildings and appliances, and time after time it turns out efficiency measures have not only saved us money but leaped our economy ahead," Nichols said after the 8-0 vote.'
In regard to the big three automakers it is quite possible that in the end only Ford will survive or none at all. Ford might survive because at present it has enough cash reserves whereas chrysler and GM do not have enough to last into January.
Unless either President Bush or the FED steps in and helps it is likely Chapter 11 for GM and Chrysler by the end of January at the latest. Maybe through bankruptcy chapter 11 with the government guaranteeing their products for years they might keep going another 50 years. it remains to be seen.
If the gas guzzlers of general motors and chrysler are gone can Opec survive? Likely not.
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