Why doesn’t the OIL INDUSTRY bail out the AUTO INDUSTRY?

Seriously. Ashton Kutcher brought this up while on Real Time with Bill Maher.

The way I see it, the auto industry is asking for 25 Billion dollars in the form of a loan. Since Big Oil benefits from the auto industry, and made Billions in profits, why don’t they loan the money to the auto industry (since it’s a loan and all)?

Heck, the Oil companies could start a non-for-profit, donate the money and then GIVE it to the auto industry as a donation and have a tax write off. Just saying, why not ask their coconspirator… Why doesn’t the OIL INDUSTRY bail out the AUTO INDUSTRY?

Comments

[Darius T. Williams]

That Ashton Kutcher is a smart guy!

[Los Angelista]

It's a very good question. I wonder that too, especially with the record profits.

[Randy]

The oil industry is agnostic as to which auto companies succeed or fail. If GM, Chrysler and/or Ford fail, Toyota, Honda, Kia, etc will all sell more cars. Either way they still sell oil.

I've never believed the conspiracy stories about oil/auto working together to screw us.

[DJ Black Adam]

@Randy:

Well, you and I will have to disagree with that presupposition. They have a symbiotic relationship, sort of like McDonald's and Coke.

Sure, Coke goes on if McDonald's tanks, but it does much better at least if McDonalds stick around.

But since Detroit is invested in Japanese cars (i.e. Chrysler / Mitsubishi - Ford / Mazda etc), I guess its a matter of titles.

[Randy]

Ford has sold it's stake in Mazda (I believe). Toyota's sales are hurting as badly as the big 3 (or very close). They are much better situated (cash wise) to ride out the storm.

Personally, I think it would be a wise investment for the oil companies from a strictly $$ stand-point, but the negative press would counteract any benefit. 5 years from now, everyone would say that Detroit was in Big Oil's back pocket. Right now, only about 50% of people say that.