The two major U.S. presidential candidates, Barrack Obama and John McCain, have both expressed an interest in investing Federal money into green automotive technology. Although both men have differing ideas about what may be the best way to move forward, it's becoming clear that green automotive technology will be a point for debate as the election nears. This week, Obama visited with leading members of the Detroit automotive scene, including Rick Wagoner from General Motors and Alan Mulally from Ford, both of whom seemed pleased with how the dialogue went. When asked by Obama what he, as President, could do to help the ailing auto industry in the U.S., Wagoner responded by suggesting that the government contribute funds into the research and development of emerging technologies, such as automotive batteries. Maybe more than $30m, perhaps?

Assuming that the cost for new eco-friendly technology will be passed on to the consumer, Wagoner also suggested that the government make it easier to get into a new green car, which has been done to good effect with hybrid vehicles already. Obama, for his part, said he saw "surprising consensus" among the automotive industry representatives, so we'd imagine similar suggestions were heard all around.

Update: Fixed Rick Wagoner's name, thanks!

[Sources: The Detroit News, Automotive News - sub. req'd]

Shortly after the University of Michigan released a report indicating that auto executives believe gas prices and CAFE standards will increase dramatically in the next decade, Rick Wagoner said, "With the price of oil at its lowest level in 19 months, we run the risk of reverting back to our traditional energy policy, that is, relying heavily on the lowest-cost energy available on world markets, including imported oil, without providing adequate support for developing alternative sources.

"One of the things that government has to do to really promote energy diversity is proactively support the development of alternative fuel technology, And incentivize consumers through tax credits, fuel subsidies and so on to adopt these exciting new technologies."

Wagoner and GM have been focusing a good deal of research and development towards alternative energy vehicles in the past few years. This is evident by the release of the Chevy Volt, which was preceded by their hydrogen fuel cell platforms and the EV1 electric car programs, and even as far back as the 70's hydrogen tests. Also, don't forget their plug-in plans for the Saturn Vue hybrid. Additionally, GM has been producing E85 capable vehicles for a few years now, and last year advertised them heavily.

Although Wagoner believes that the government could and should help out, he fell short of suggesting that the federal gas tax be enlarged, as did Tim Leuliette, chairman and CEO of Metaldyne Corp. as mentioned today in a different post. These are certainly hot-button topics to many, and if you have an opinion you would like to share,
feel free to do so in our comments.

Related:

• Detroit automakers issue joint statement on their meeting with President Bush
• Detroit Auto Show: Will the Volt generate new EPA regulations and ratings?
• GM wants production to respond to gas prices

[Source: Detroit News]

(Whoops. Edited to correct name)