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Obama wanted to increase federal subsidies for electric vehicles to almost $590 million, but Congress never gave the green light

U.S. President Barack Obama planned to increase federal subsidies for electric vehicles to almost $590 million, but Congress has not yet approved this hefty agenda.

The $590 million EV boost was presented in Obama's 2011 State of the Union address, where $200 million of that total would be put toward EV infrastructure development in up to 30 cities. The idea reflected bipartisan bills brought to light in 2010.

"With more research and incentives, we can break our dependence on oil with biofuels, and become the first country to have a million electric vehicles on the road by 2015," said Obama in the 2011 State of the Union address. "We've begun to reinvent our energy policy. We're not just handing out money. We're issuing a challenge."

Congress still hasn't approved the policy changes for EVs, according to White House Press Secretary Jay Carney.

"There are absolutely things that remain undone that need to be done that he will call on all of us to work together to get done in this address and beyond," said Carney.

Obama is expected to talk today about an "economy fueled by homegrown and alternative energy sources that will be designed and produced by American workers."

Funding and loans for alternative energy have been scrutinized lately. In October 2011, Mitt Romney, a candidate for the 2012 Republican Party presidential nomination, blasted the $1 billion in loans given to Tesla and Fisker Automotive. That wasn't the first time he criticized aid to the auto industry, though. In 2008, he disagreed with former U.S. President George W. Bush's decision to give bailouts to U.S. automakers.

In September 2011, Rep. Mike Kelly (R-PA), a Hyundai and Chevrolet dealer, suggested killing off the $7,500 tax credit for EVs entirely.

"The bottom line is, while our nation borrows 42 cents on every dollar, taxpayers are paying for an electric vehicle tax credit that has cost tens of millions of dollars, and that largely benefits upper-income Americans," said Kelly.

Obama, however, planned to convert the $7,500 federal tax credit for EVs into a rebate that would be given to customers upon purchasing an electric vehicle. He made this announcement in January 2011.

To make matters worse, EVs have been placed under the spotlight due to recent battery troubles associated with General Motors' Chevrolet Volt. The National Highway Traffic Safety Administration conducted a series of tests in May and November last year where three separate Volt batteries sparked or caught fire after side-impact tests.

Electric vehicles are not the only targets for alternative energy-related criticism. Back in September 2011, Silicon Valley-based solar panel company Solyndra went bankrupt after receiving a $535 million loan from the Obama administration in 2009. The move was set to stimulate economic growth through environmentally friendly jobs, but government employees warned back in 2009 that Solyndra would indeed go bankrupt in a matter of two years. The loan pushed through anyway in order to meet political deadlines.

Source: The Detroit News

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RE: Hydrogen??
By Nfarce on 1/24/2012 9:23:47 PM , Rating: 2
Wow that chart got jacked up in the carry-over. Oh well, you can play with the numbers starting here and plug in different cities and year ranges...

RE: Hydrogen??
By YashBudini on 1/24/2012 9:28:45 PM , Rating: 2
You can set this chart to a max of 6 years and get an idea of how the stats were manipulated.

RE: Hydrogen??
By Nfarce on 1/24/2012 9:37:25 PM , Rating: 2
Ah, so now the "stats" were manipulated, eh Yash? So is lying now? RC was right. You really are a waste of time.

RE: Hydrogen??
By YashBudini on 1/24/2012 9:41:57 PM , Rating: 2
Out in left field with "farce" facts again.

I never addressed the legitimacy of GasBuddy. Check your PayPal account I'm sending you a quarter so you can buy a clue.

RE: Hydrogen??
By Nfarce on 1/24/2012 9:46:58 PM , Rating: 2
My gas in January 2009: $1.83 for 87 octane.

My gas in January 2012: $3.42 for 87 octane.

My rise in percentage: 85%.

Deal with it.

RE: Hydrogen??
By YashBudini on 1/24/2012 9:56:05 PM , Rating: 3
My gas prices July 2007 - $4.12 for 87 octane.

My gas prices January 2012 - $3.70 for 87 octane.

Price drop 10%.

Just as valid as your stats.

Deal with it. Did the quarter arrive?

RE: Hydrogen??
By Nfarce on 1/24/2012 10:02:52 PM , Rating: 2
What city? Post it so I can look it up. You have to be the only city I know of that has seen gas go DOWN. Did you food prices and energy prices go down unlike everyone else in the nation too?

Anywaay, you claimed the 85% rise in gas under Obama was a lie (the average of course), I proved you wrong.

And you don't need me to tell you what you can do with that quarter...

RE: Hydrogen??
By YashBudini on 1/24/2012 10:16:26 PM , Rating: 2
Set your chart to the national average 6 years then just look at the peak and the last entry.

RE: Hydrogen??
By Reclaimer77 on 1/24/2012 10:06:20 PM , Rating: 2
Bush didn't leave office in 2007 last time I checked.

Obama ran his campaign on, among other failed promises, lowering the price of gas. I can't imagine how the price of gas is going to get lower when you block drilling, block pipeline projects, and cause massive debt and inflation. Also hiring an energy secretary who thinks we need European gas prices doesn't help. Oh and that little issue of Obama himself proposing a MASSIVE gas tax increase of $.15 a gallon by 2013. Hello?

You can play around all day with the numbers like the child you are, but you're missing the entire point of the discussion. Why don't you fire up that dictionary site again and look up the word "context".

RE: Hydrogen??
By YashBudini on 1/24/2012 10:29:20 PM , Rating: 2
I can't imagine how the price of gas is going to get lower when you block drilling, block pipeline projects

Yeah and no mention of BP and their oil spill.

Corporate ass kiss like Obama much?

RE: Hydrogen??
By YashBudini on 1/24/2012 10:35:35 PM , Rating: 2
I don't deal with your context (propaganda) which is why I pushed for a total average over the entire time in office. Anybody can pick out 2 dates and make their target look bad.

So why haven't you looked at the whole package? What are you afraid of? You started it when you said average, remember? Or was that a Faux claim?

PS I never considered you the enemy, rather you are simply someone who gave up the addiction to street available pharmaceuticals for the addiction of standing in a group so you can shout loser and pretend to have some viability. Overall pretty sad.

"Nowadays, security guys break the Mac every single day. Every single day, they come out with a total exploit, your machine can be taken over totally. I dare anybody to do that once a month on the Windows machine." -- Bill Gates

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