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Electric Cars: The Environmentally Friendly Way of Losing Money Since 2009

Gilchrist Wrote: Dec 07, 2012 9:13 AM
“we have to figure out how to boost the price of gasoline to the levels in Europe.” is a no brainer. All the Obamanation and Chu have to do is raise the federal excise tax on gasoline to European levels. Taxes only account for about 11% of US pump prices, but 70% of European pump prices. Of course if Chu had taken the obvious step, the Obamanation would not have been reelected.

A Congressional Budget Office report released in the fall 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, “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...

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