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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 Reclaimer77 on 1/24/2012 9:34:11 PM , Rating: 2
So we're going to play the game of arguing over "how much" it's gone up under Obama instead of talking about why it HAS in regards to his so called "energy policy"? Umm no, sorry, not playing that game with you.

You even called it a "deflection" when I quoted the expressed mission statement of Obama's energy secretary to give us Euro gas rates? Come on man! You'll stop at nothing to fight the truth, get a new hobby.

RE: Hydrogen??
By YashBudini on 1/24/2012 9:46:27 PM , Rating: 2
I stated with 100% completeness what gas cost under Bush, you didn't even come close. I'm asking you to do the same for Bambam and let us know what his average is.

Are you going to go with the complete picture of your claim or are you going to continue to play dumb? It's up to you.

The quote was non-sequitir, still is. If I looked up Ken Lay quotes I'd bury that in material.

RE: Hydrogen??
By Reclaimer77 on 1/24/2012 10:29:04 PM , Rating: 2
I stated with 100% completeness what gas cost under Bush,

LOL!!!! I'm dying over here. You cherry picked the two months where gas was highest and approximate that to being what "gas cost" under Bush's 8 years. And that's being open and honest?

When Clinton took office on January 20, 1993, the national average gas price was $1.06 per gallon. six and a half years later, the national average gas price had jumped to $1.22, roughly 15% higher. Compounded annually, this represents about a 2% jump each year.

George W Bush took office in 2001 where the price of gas was $1.52 a gallon. When he left in 2009 it was $1.84. Over Bush's entire term of office, gas increased at a compounded annual rate of approximately 2.85% per year.

Now why don't you plug in Obama's numbers and see where that takes you. Talk about someone who's playing dumb.

RE: Hydrogen??
By YashBudini on 1/24/2012 10:38:46 PM , Rating: 2
No, not there, but in here
1/24/2012 9:25:51 PM
Try following the thread, yeah that's a tough one.

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