UAW

[HALL85]

https://www.axios.com/2023/09/15/uaw-worker-strike-electric-vehicle-industry

Think I’ve seen this movie before. See history of US steel industry (and as a case study, the downfall of Bethlehem Steel). Greed both management and unions ignoring competitive entrants. Boosting Tesla/Musk big time.

 

[Pirata]

Definitely some parallels. Add in government regulation. Some of the regulation and interference is good but some is unreasonable. For steel, it was a perfect storm of the factors you mention plus regulation. As you say, the same storm is brewing for the auto industry.

I recall with Bethlehem Steel that the emissions requirements were off the charts aggressive and the cost to implement was exorbitant. The foreign competition did not have the same challenge. Bethlehem was producing much cleaner steel than the foreign competition before the regulations and the additional burden was crippling.

With the auto industry, government regulation and interference is having an impact. The tree huggers think this is wonderful but have no clue what the impact will be on the economy.

U.S. government to end gas-powered vehicle purchases by 2035 under Biden order

The U.S. government plans to end purchases of gas-powered vehicles by 2035 in a move to lower emissions and promote electric cars under an executive order signed by President Joe Biden on Wednesday.

www.reuters.com

 

[ed odowd]

Since about 40% of oil is used to make gasoline Saudi Arabia could be in a death watch.

 

[HALL85]

Definitely some parallels. Add in government regulation. Some of the regulation and interference is good but some is unreasonable. For steel, it was a perfect storm of the factors you mention plus regulation. As you say, the same storm is brewing for the auto industry.

I recall with Bethlehem Steel that the emissions requirements were off the charts aggressive and the cost to implement was exorbitant. The foreign competition did not have the same challenge. Bethlehem was producing much cleaner steel than the foreign competition before the regulations and the additional burden was crippling.

With the auto industry, government regulation and interference is having an impact. The tree huggers think this is wonderful but have no clue what the impact will be on the economy.

U.S. government to end gas-powered vehicle purchases by 2035 under Biden order

The U.S. government plans to end purchases of gas-powered vehicles by 2035 in a move to lower emissions and promote electric cars under an executive order signed by President Joe Biden on Wednesday.

www.reuters.com

Elon is loving this.