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 GM's leader says government should promote alternative fuels
Publication Date:17-January-2007
06:30 AM US Eastern Timezone 
Source:The Associated Press
DEARBORN, Michigan--General Motors Corp. Chief Executive Rick Wagoner called on the U.S. government to promote development of alternative fuels such as ethanol, hydrogen fuel cells and advanced battery technology by using tax credits or fuel subsidies.

His comments _ made while oil prices are at a 19-month low _ came at an auto industry conference Tuesday.

Wagoner is happy the price of oil has dropped below $52 a barrel, but he also does not think it will last.

"We run the risk of reverting back to our traditional energy policy," he told the Automotive News World Congress. "That is, relying on the lowest-cost energy available on world markets (including imported oil) without providing adequate support for developing alternative sources."

Wagoner said automakers need to lead the way, but government and other industries such as oil, electric utilities, battery companies and research laboratories must play a role.

He said marketplace reality will require the government to step in and promote U.S. energy security and diversity "regardless of what happens to the price of oil in the short term."
 
 

 
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