Big 3 auto CEOs to meet Bush

Here are some excerpts from this article which I found interesting:
“The chief executive officers of General Motors Corp., Ford Motor Co. and DaimlerChrysler AG's Chrysler unit will meet with President George W. Bush next month to discuss energy policy, labor costs and foreign exchange issues.
“But record high oil prices and gasoline that exceeds $3 per gallon in some cities have become a hot-button political issue for the White House and an area of potential common ground with the auto industry.”
U.S. automakers have said the government needs to encourage the building of a network of gas stations that supply ethanol, or E85, a fuel that is made mainly from corn.”
“Chrysler Chief Executive Tom LaSorda, sharing the stage earlier this week with Bush at a renewable fuels conference, said his company would have half a million ethanol-ready vehicles on the market by 2008.”

This is good news for Ethanol companies, but the question is how long will they ride on this kind of news? These companies have to begin making profits, eventually fundementals have to catch up with them, as speculation will dry out.


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