A day after his stock-only pay-package was announced, Elon Musk may be a little disappointed this morning as his shares are sliding following a WSJ report that California regulators and Trump administration officials met to discuss for the first time the prospect of controversial changes to vehicle-emissions rules.
The taxpayer-subsidized car-maker is under pressure today, not helped by headlines from The Wall Street Journal that adminstration officials took a significant step in complex negotiations aimed at preventing a legal battle over future environmental regulations on cars and trucks.
President Donald Trump last year charged federal regulators with revisiting the regulations in response to increased purchases of heavier and less-efficient pickup trucks and sport-utility vehicles.
That move triggered concern at Ms. Nichols’ California Air Resources Board, which favors lofty emissions standards including higher sales of electric cars.
In a coffee shop near the White House, Trump administration officials broached whether California is open to easing future emissions and mileage goals, the people said, an approach state leaders have openly resisted for nearly a year. California officials were noncommittal, but agreed to continue discussions and exchange technical analyses ahead of an April deadline for the Environmental Protection Agency to decide whether regulations covering 2022-2025 should be revised.
The reaction was not violent but is clear...
Time for Elon to visit The White House again!!