Theodore's World: Obama’s $5 Billion Electric Car Dream Bankrupt and in Shambles

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February 05, 2013

Obama’s $5 Billion Electric Car Dream Bankrupt and in Shambles

Obama’s $5 Billion Electric Car Dream Bankrupt and in Shambles

Obama wanted one million electric cars on the streets in America by 2015.

80% of Obama’s green energy loans went to donors – at least 19 companies went bust.

Obama has spent at least $5 billion on electric cars.

Are electric cars running out of juice again?

Recent moves by Japan’s two largest automakers suggest that the electric car, after more than 100 years of development and several brief revivals, still is not ready for prime time – and may never be.

In the meantime, the attention of automotive executives in Asia, Europe and North America is beginning to swing toward an unusual but promising new alternate power source: hydrogen.

The reality is that consumers continue to show little interest in electric vehicles, or EVs, which dominated U.S. streets in the first decade of the 20th century before being displaced by gasoline-powered cars.

Despite the promise of “green” transportation – and despite billions of dollars in investment, most recently by Nissan Motor Co – EVs continue to be plagued by many of the problems that eventually scuttled electrics in the 1910s and more recently in the 1990s. Those include high cost, short driving range and lack of charging stations.

The public’s lack of appetite for battery-powered cars persuaded the Obama administration last week to back away from its aggressive goal to put 1 million electric cars on U.S. roads by 2015.

Wild Thing's comment................

The jerk just keeps throwing away our tax dollars, and also his donations he received for stupid things that are not going to work.

Watch the video, it tells how the battery keeps catching on fire.

Posted by Wild Thing at February 5, 2013 12:50 AM


Of all this money he loaned these green energy companies that went bankrupt, I wonder how much of this money made it back into Democrat coffers?

Posted by: BobF at February 5, 2013 07:14 AM

Did a short excerpt and linked back.

Posted by: Bob A. at February 5, 2013 10:40 AM

Electric cars should be blueprinted and developed by private money, not tax money. So far electric cars have done about as well as Hanoi Jane's veggie bus.

Posted by: TomR, armed in Texas at February 5, 2013 11:21 AM