Why Our Government Invests In Electric Cars

The Electric Drive Transportation Association recently published an article (http://multibriefs.com/briefs/EDTA/EDTA102811.php) that explains why the US government spends money to promote electric vehicles.  We feel that it made such a good point, we copied and pasted it here, in its entirety. See  what you think …

“At a time when all government funding is being carefully scrutinized, it is worth noting the importance of federal support for energy innovation. U.S. investments in advanced technology and manufacturing innovation are critical because they are helping to build our position in the growing global market for electric drive vehicles. This includes hybrids, plug-in hybrid, pure battery electric and fuel cell vehicles.

Industry investments demonstrate where transportation is headed. The hybrid market has grown from a few model offerings a decade ago to more than 30, with vehicles to meet diverse driving needs. More than 20 plug-in electric models will be available by the end of 2012. These private investments are growing employment throughout the supply chain: advanced component suppliers already employ an estimated 155,000 U.S. workers.

Federal support is reinforcing investment in electrification because of its potential to address a grave threat to our national security: oil dependence. U.S. transportation runs almost entirely on oil — nearly 60 percent of which is imported.

Oil dependence also has enormous economic costs. We spend about $1 billion a day on imported oil. Every $10 increase in the barrel price of oil costs our economy $75 billion. Electricity is a domestic, ample and affordable alternative. So, while projections of the speed at which we will electrify transportation vary, there is no doubt that we must.

Both private and public investments are advancing electric drive technologies and enhancing our competitiveness globally. They are also the key to energy security. No investment is without risk, but the greatest one is ignoring the true cost of oil to taxpayers and the nation.”