Bill Pierre Ford

There’s more than one way for Hollywood actors to go green. While most celebrities choose to go the way of Toyota Prius ownership, Eric Bana’s chosen green ride is a 1973 Ford Falcon from Australia, a gas guzzler from a time that just barely predates most modern emissions equipment. That car, which is the title character in Bana’s upcoming new movie Love The Beast, was modified to take part in the grueling Targa Tasmania Rally, and we doubt the list of upgrades included bits like catalytic converters and computer-controlled engine management systems. Other stars slated to appear in the new flick include certified motor-heads Jay Leno, Jeremy Clarkson and… um, Dr. Phil. So, what’s the green angle?

Bana’s production company, known as Pick Up Truck Pictures, contracted an outside firm to calculate the total carbon emissions spent in the production of the film. To offset this carbon footprint, oxygen-exhaling trees will be planted to suck up their share of carbon dioxide and restore forest ecosystems. Ta-da!

The federal auto loan program to modernize the auto industry isn’t moving as fast as carmakers and some in Congress would like.

There was a real to help the automakers and their suppliers revamp old factories and increase production of fuel friendly vehicles but the money turned out to be more important for other uses than originally thought as the economy and the auto industry struggle.

The money has yet to be sent out and there is no set timeframe to finish the review of the submissions for the federal funds.  The delay highlights some of the difficulties in pushing money out the door as Congress debates the best way to stimulate the economy.

As of Jan. 23, the department had received and reviewed 75 applications for the federal car loans. In that batch, 26 moved on to the next round, which assesses the technical eligibility of the project and financial viability of the company applying.

Those that were rejected were notified why they did not meet the criteria and may supplement their applications by March 31.

Ford, which is seeking $5 billion in direct loans by 2011, made it through the first review.

The next step could be trickier. The government must determine whether applicants have the ability to repay this loan, at a time when auto sales across the industry have fallen to their lowest levels in decades.

The aid for developing more fuel-efficient cars is being taken up separately from the requests for TARP money but both will be a part of the repayment formula.

Energy Department spokesman Dan Leistikow said in a statement that the secretary agrees that “the loans need to be issued as quickly as possible to help our automakers retool, create jobs, and produce the next generation of fuel-efficient vehicles.”

Article Source: Washington Post . com