Another massive federal welfare program for the automakers to blow a bunch of money on. Basically, like a lot of other Clinton programs "conservatives" used to rail against, Bush has merely exchanged one federal boondoggle and substituted his own.
Motto of the New! GOP under Bush, Hastert and Lott.
"At least he's our thief."
But if W actually has a long term plan to switch to nuclear/hydrogen economy....I think it's brillant.