I will try to make this simple and to the point.
America has joined the Kyoto Protocol by default.
Governor Schwarzenegger and British Prime Minister Tony Blair signed an agreement to start trading Carbon. By the end of August California may have a new law the  “California Global Warming Solutions Act of 2006” (see the August 9 amendment it states; Section 39003 of the Health and Safety Code is amended to read) 

39003.  The State Air Resources Board is the state agency charged
with coordinating efforts to attain and maintain ambient air quality
standards, to conduct research into the causes of and solution to air
pollution, to monitor and regulate the sources and reduce emissions
of gases that cause global warming, and to systematically attack the
serious problem caused by motor vehicles, which is the major source
of air pollution in many areas of the state.

And the last paragraph of AB 32 states this:

SEC. 4.  No reimbursement is required by this act pursuant to
Section 6 of Article XIII B of the California Constitution because
the only costs that may be incurred by a local agency or school
district will be incurred because this act creates a new crime or
infraction, eliminates a crime or infraction, or changes the penalty
for a crime or infraction, within the meaning of Section 17556 of the
Government Code, or changes the definition of a crime within the
meaning of Section 6 of Article XIII B of the California
Constitution.


 The key issues for Ford, all other car makers and Californians are:
Car is not in carbon just for phonics sake. Car is in carbon because cars are the major source of the Carbon being released in the atmosphere. SEC. 4 says, it will be a crime to exceed your carbon allowance. Like always, first in California then to the rest of the US.

What does this mean for American auto makers. Give Americans GHG friendly Vehicles that get all the benefits offered by state and federal programs, like the tax rebates, HOV single driver sticker...
The only way to take advantage of these programs are 45 MPG My Suburban will never get that or dedicated Alternative Fuel vehicle. That means E85 is out and LPG, CNG, LNG running dedicated are IN. Ford Australia has the answer 20% of their vehicles are running dedicated LPG. Most of the world is converting to LPG. Why can't I buy a new For Falcon running dedicated LPG, I will sell my Mazda 6 tomorrow and buy the Falcon that same day. GM make the new Suburban run dedicated LPG and My wife will have her new Suburban she wants.