WSJ editorial team mocks carmakers being ‘double-crossed’ by Biden administrator: ‘Hard not to laugh’


Wall Street Journal editors make fun of traditional carmakers to be “double-spiced” by Biden administration over new standards for fuel economy.

IN and Wednesday editorial, the board mocked the producers for trusting that the federal government would be good business partners and described how the work they did to promote Biden’s Electric Vehicle (EV) agenda would turn into nothing after the Environmental Protection Agency ( EPA) Communication on new rules without the expected subsidies to the companies.

President Joe Biden speaks during a visit to the General Motors Factory ZERO assembly line for electric vehicles, Wednesday, November 17, 2021 in Detroit.
(AP Photo / Evan Vucci)

DEROY MURDOCK: DEMS ‘ELECTRIC CAR DREAMS ARE LOW ON BATTERY

“Political theater can be more entertaining than what’s on TV. It’s hard not to get a laugh out of seeing carmakers being double-crossed by the Biden administration after working so hard to promote its electric vehicle agenda, “wrote the board.

“In the latest cartoon turnaround last week, the administration issued new standards for fuel economy, effectively mandating that electric cars account for 17% of car sales in 2026, up from about 3% this year. That was the day after Sen. Joe Manchin dismissed President Bidens Build Back Better plan, which includes a cornucopia of electricity subsidies, “it added.

The board noted that the new rules were more aggressive than those under the Obama administration and were also stricter than the EPA standards proposed over the summer, but were seen as achievable by the Biden administration, in part because of the manufacturers’ public commitment to build electric vehicles in the future.

A flag with the EPA logo waving in front of the Environmental Protection Agency on Tuesday, January 1, 2019.

A flag with the EPA logo waving in front of the Environmental Protection Agency on Tuesday, January 1, 2019.
(Bill Clark / CQ Roll Call)

FORD CEO FARLEY SAYS THESE CUSTOMERS ARE NOT READY FOR ELECTRIC CAR

The board also noted that BMW, Ford, Honda, Volkswagen and Volvo in August all expressed support for stricter rules on the condition of “more federal greatness.”

“Fed action by our partners in the federal government is crucial to building consumer demand for electric vehicles,” read the statement from the automakers, to which the board said, “The Feds seem to have their own ideas about who runs this partnership.”

The board wrote that Ford, GM and Stellantis all hailed new standards, but claimed they needed a “full suite” of EV subsidies. It added that BMW, Ford, Honda, Volkswagen and Volvo looked like “political naifs” after them formed an alliance with California in 2020 to comply with stricter fuel standards than the necessary of the Trump administration in the hope that it “would protect them from an even more burdensome future mandate.”

“The EPA now says that the ‘voluntary’ agreement with California demonstrates the feasibility of its latest standards, and the EPA cites the approved summer quotes from automakers in support of their more burdensome new rules,” the board wrote.

BRANDYWINE, MARYLAND - DECEMBER 13: US Vice President Kamala Harris connects an electric vehicle from Prince George's County to a charging station at the Brandywine Maintenance Facility on December 13, 2021 in Brandywine, Maryland.  (Photo by Chip Somodevilla / Getty Images)

BRANDYWINE, MARYLAND – DECEMBER 13: US Vice President Kamala Harris connects an electric vehicle from Prince George’s County to a charging station at the Brandywine Maintenance Facility on December 13, 2021 in Brandywine, Maryland. (Photo by Chip Somodevilla / Getty Images)
(Photo by Chip Somodevilla / Getty Images)

CLICK HERE TO GET THE FOX NEWS APP

The board noted that the new Biden rules were stricter than California’s and limited the additional regulatory credits that automakers could knock and roll over to meet the standards.

It also noted that EV manufacturers like Tesla made money on the credits by selling their profits achieved by easily meeting the standards of traditional manufacturers who struggled to comply with the rules.

“It’s understandable if auto executives and shareholders are upset by the double-crossing, but that’s what happens when business goes to bed with the government as ‘partners.’ Politicians do not respect you in the morning,” the board wrote.



Source link

Leave a Comment