A new Congressional Budget Office report tells Obama what the rest of us have known for some time: Your bet on electric cars wasnâ€™t an investment, but a gamble; a dumb gamble.
And now youâ€™ve just come up snake eyes.
â€œDespite the federal government pumping $7.5 billion into the electric vehicle industry in the United States through 2019,â€ writes the CSMonitor.com, â€œoverall national gasoline consumption is unlikely to be significantly affected, according to a report released by the Congressional Budget Office (CBO).â€
The CBO says that even if Obama increased the amount of the subsidy, it would make little difference to the gasoline usage or emissions output because automakers would still be required to hit fuel efficiency targets. Instead, the CBO says that either a tax on gasoline or carbon is the only way to increase the attractiveness of electric cars to consumers. Read More: http://finance.townhall.com/columnists/johnransom/2012/09/25/even_war_and_rumors_of_war_cant_save_chevy_volt/page/full/