OBAMA RULE

WASHINGTON (Reuters) - The Bush administration will not finalize new auto fuel efficiency standards, as it had planned, due to historic uncertainty gripping U.S. manufacturers, officials said on Wednesday.
The Transportation Department had intended to complete the regulation laying out annual mileage targets from 2011-15 by year's end, but will now hand the matter over to the incoming Obama administration.
"The recent financial difficulties of the automobile industry will require the next administration to conduct a thorough review of matters affecting the industry," the agency said in a statement.
The rule must be finalized by April 1 to allow automakers time to incorporate tougher mileage standards in their design plans, but uncertainty about industry prospects and other factors could alter the timetable.
"Now more than ever automakers need certainty and this decision only further delays their ability to finalize future product plans," the industry's chief lobbying group, the Alliance of Automobile Manufacturers said in a statement.
The administration approved a $17.4 billion bailout of General Motors Corp and Chrysler LLC in December to avert the threatened near term collapse of one or both of them.
Ford Motor Co did not seek a bailout, but also is struggling financially. It would like a government line of credit to tap if its condition worsens more than expected this year or next.
Automakers receiving assistance must accelerate restructuring and show the government by the end of March that they can be financially viable or risk potential bankruptcy. Although the aid infusion eased fears of immediate failures, U.S. manufacturers still face serious uncertainty. Continued...