And now, more damage for U.S. auto makers' bottom lines. Bloomberg is reporting President-elect Obama is expected to grant California a waiver allowing regulations on greenhouse gas emissions tougher than those currently set in the U.S. This increases pressure on the auto industry to develop efficient vehicles, which will cost billions and restrict sales of currently-existing car models no longer compliant with new standards.

California wants to cut carbon exhaust and other gases that induce global warming 30 percent by 2016. More on the state's efficiency initiatives in the LA Times.