Obama demands fuel efficient cars

Senator Barack Obama hit hard on American auto companies today at a Detroit Economic Club luncheon in Detroit, saying that the three biggest American car makers did too little to lessen the nation's dependence on foreign oil.

The Democratic presidential candidate argued that while Japanese companies were investing in fuel efficient cars their Detroit counterparts were developing more powerful vehicles, thus creating their current financial predicament.

"For years, while foreign competitors were investing in more fuel-efficient technology for their vehicles, American automakers were spending their time investing in bigger, faster cars," said Obama in his speech. "And whenever an attempt was made to raise our fuel efficiency standards, the auto companies would lobby furiously against it, spending millions to prevent the very reform that could've saved their industry."

Obama proposed more rigorous fuel economy standards, tax credits to consumers who buy hybrid or ultra-efficient vehicles and higher subsidies to automakers in return of greater investments in advanced fuel technology.

Obama was introduced by Detroit Mayor Kwame Kilpatrick as "presumably, maybe the next president of the United States." Obama received a heavy standing ovation, a rarity for an Economic Club event.