A new Congressional Budget Office report tells Obama what the rest of us have known for some time: Your bet on electric cars wasn’t an investment, but a gamble; a dumb gamble.
And now you’ve just come up snake eyes.
“Despite the federal government pumping $7.5 billion into the electric vehicle industry in the United States through 2019,” writes the CSMonitor.com, “overall national gasoline consumption is unlikely to be significantly affected, according to a report released by the Congressional Budget Office (CBO).”
The CBO says that even if Obama increased the amount of the subsidy, it would make little...











"Electric vehicles require large amounts of electricity – so much that Toronto Hydro chief Anthony Haines says he doesn’t know how he’d get it. “If you connect about 10 per cent of the homes on any given street with an electric car, the electricity system fails,” he said recently."
I suspect Canada's power grid is no worse than ours (and very possibly better). No carbon tax will ever fix that problem.
At my current rates including taxes,that would be an extra $60 a month,more than doubling my monthly bill.
Then companies will produce what consumers actually want, as determined by what they are willing to pay for with their own money. And we won't be taxed to subsidize Obama's adventures in venture capital (which don't ever seem to pan out), or forced to kick in 10k for George Clooney's vanity car he drives to the Oscars.