Coal-Powered Cars -- An Inconvenient Truth -- The Congressional Budget Office

Link here, to Reuters, to some sobering news with regard to coal-powered cars.

U.S. federal policies to promote electric vehicles will cost $7.5 billion through 2019 and have "little to no impact" on overall national gasoline consumption over the next several years, the Congressional Budget Office said in a report issued on Thursday. Consumer tax credits for buying electric vehicles, which can run as high as $7,500 per vehicle, will account for about 25 percent of the $7.5 billion cost, the CBO said.

Wow: let's repeat that -- federal policies will have little to no impact on overall national gasoline consumption.

And then this:

The rest of the cost comprises of $2.4 billion in grants to battery makers and projects to promote electric vehicles as well as $3.1 billion in loans to auto companies designed to spur production of fuel-efficient vehicles.

We all know how that turned out. If you need help remembering, google Fisker Karma or A123 or Ener1 for starters.

From ClimateLawyers.com blog:

As if it wasn’t hard enough trying to displace the internal combustion engine as the motive force of the automobile, then this happens. First the plug-in hybrid Chevy Volt’s battery starts catching fire.  See Chariots On Fire.

Then battery-maker Ener1 files for bankruptcy protection. 

Last Thursday, the electric vehicle arena acknowledged more bad news. Fisker Automotive, maker of the electric sport coupe Karma and promisor of the Nina, issued a press release following a set of disquieting reports from various outlets. The sour news: “As a prudent business measure, project Nina has been temporarily put on hold until financing, either from the DOE or elsewhere, can be secured.” 

Fisker is the high end of electric vehicles. Its “plug-in extended range” Karma sedan seats four and retails between $96,000 and $109,000. It can do 0-60 in 7.9 seconds in full electric (Stealth) mode (the plug-in part). But turn on its gasoline engine, which turns its electric generator, and you’re down to 5.9 seconds (Sport Mode) (the extended range part). Motor Trend calls it “a sweetheart to hustle.” 

Nina is (was?) the more consumer-friendly version of a Fisker. It is to be (according to reports) a compact or midsize sedan, priced in the $40,000 range (after the $7,500 federal tax credit). It is to be built in a refurbished GM plant in Delaware, which Fisker bought out of GM’s bankruptcy in 2009. Predicted production levels were 100,000 vehicles per year. That goal is currently not realizable.

I can't make this stuff up.

Actually that ClimateLawyers.com blog is entertaining to read no matter what side of the issue you stand on.

The first linked article, about the CBO, is also entertaining. Deep in the article, this data point:

The U.S. government will spend anywhere from $3 to $7 for each gallon of gasoline saved by consumers driving electric vehicles. 

Proponents of government spending on advanced vehicles say the start-up costs will be high, but U.S. consumers could still recoup much of that investment over time. 

"The people the report often know the cost of everything and the value of nothing," said Dan Weiss, a senior fellow at the Center for American Progress. "They are overestimating the costs of these programs and undervaluing the benefits."

The federal government will spend anywhere from $3 to $7 for each gallon of gasoline saved by consumers driving electric vehicles.  

As I said up above: I can't make this stuff up.

What a waste.