Rick Allen: “It is clear that the EU legislature and individual European countries are setting higher standards. They are setting…”

“It is clear that the EU legislature and individual European countries are setting higher standards. They are setting some standards. They are setting higher standards, obviously, than the Federal Government here for carbon emissions. And the result is that they are triggering the need to do a substantial amount of research and development in renewable fuels, in ways of converting to new fuels, and to having more renewable technologies. I think it is likely, based on what I heard in Johannesburg, that Europe is going to go roaring by the United States when it comes to developing new technologies of this kind. That is going to leave us, in the long run, at a disadvantage in the European market. And when carbon restrictions come in this country, as they surely will, it will leave U.S. automakers and others really behind the 8 ball.”