Obama Calls for 75% Budget Increase for Vehicle Research
April 11, 2013 11:00 AM
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Obama continues to press for more fuel-efficient vehicles with new budget proposal
Despite the fact that consumers are not adopting electric vehicles and hybrids in force, the Obama administration continues to push ahead encouraging new vehicle research and broader availability for electric vehicles and hybrids. The federal government has handed out loans to help spur research and development to bring more fuel-efficient vehicles and other green technologies to market, and those loans have backfired on several occasions.
While Tesla Motors by all accounts
seems to be thriving
, producing upwards of
, some of its competitors haven’t been so lucky. Fisker was one of the recipients of a large government-backed loan and the company is expected to
President Obama has sent his 2014 budget proposal to Congress this week and while many programs and services are seeing their budgets cut, Obama is calling for a massive boost in money available for vehicle research. President Obama wants to increase the Energy Departments vehicle research budget by 75% to $575 million.
Tesla Model S assembly line [Image Source: Tesla Motors via Flickr]
Obama also wants to create a $2 billion trust fund to research ways to wean the country off foreign oil over the next 10 years.
"We'll continue our march toward energy independence," said Obama.
Obama is also calling for provisions in his budget to help jumpstart sagging electric vehicle sales. The president wants to increase the tax credit for electric vehicle purchases
from $7,500 today to $10,000
. With the current tax credit, the electric vehicle buyer takes the tax incentive as a discount on their yearly taxes. Obama's new plan would allow consumers to take the discount at the point of sale as a rebate.
The budget also wants to accelerate research and development for emerging battery technologies and new manufacturing processes to allow the automotive industry to produce cheaper electric vehicles with better range and faster charging capability.
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4/11/2013 4:46:22 PM
Ah no, there's no sense to it.
What you're explaining is the guise these funds are allocated under, but it's not the real reason. The real reason is to boost the worth of companies his sponsors have invested in.
See, if it really was about alternative energy, Obama wouldn't be focussed so much on EV's to the point he's willing to just hand out $10,000 in cash (it hardly matters that the only provision is you have to spend it on the thing you recieve it for) for people to buy one. He would go for a shotgun approach, including algea biodiesel, hydrogen, fuel cells (both hydrogen and natural gas), solar, wind, nuclear (specifically thorium heavy breeder reactors), geothermal, hydrothermal, and cleaner garbage burners.
Note: Those are ways of actually GENERATING power. Nobody has said a single frickin word about where this power to drive these electrical vehicles come from, including obama. It's sure as hell not going to come from solar and wind. 60% of the US power generation comes from coal - THAT's where the power will come from. Dollars invested in more clean coal technology? zero.
Remember a car is made out of alot of parts. The big issue when GM was going bankrupt wasn't as much GM as the huge chain of suppliers GM has that'd also go out of business. Conversely, if a car is bought, all those suppliers get paid or worth more. I know GM lost alot of personell in the banrupcy but i heard little about it's suppliers, even though the car market is still a quarter smaller then it used to be. Smells fishy don't it?
Fisker was a government fueled ponzi scheme. First Obama's sponsors invest in it. Then the government offers a loan guarrantee, decreasing risk as well as providing positive PR. The company goes up in worth, and the initial investors rotate out of the company by selling to the next line of investors. With a healthy profit ofcourse.
Wether the second line or third or howfar the rabbit hole goes i don't know, what i do know is, as soon as the last of obama's cronies got out, the government pulled their loan and collapsed the ponzi scheme to cover their tracks. Genius.
Well. At the very least i got my question awnsered. A while ago there was a news post on here about fisker looking for $150 million more in investment capital and i posed the question wether they'd find $150 million worth of idiots to pay off the previous $140 million worth of idiots. Guess they didn't.
4/11/2013 6:38:09 PM
Yes, it's a conspiracy, that makes much more sense.
4/11/2013 8:53:45 PM
We all know politicians have to pay back there supporters. But, I'll take Obama and his cronies than Bush and his cronies.
You want to lay the cost of trying to subsidize energy efficiency at Obama's doorstep, fine, let's lay the cost of the Iraqi war at Bush's doorstep and the cronies that got hundreds of billions of taxpayer money, heard of Halliburton? And at least AFAIK, Obama's payments hasn't cost the lives of thousands of American soldiers, crippling debt because of a war that was illegal in the first place.
The amount lost because of failed ventures is virtually nothing compared to the lost lives and crippling debt that the Bush administration left us with.
“Then they pop up and say ‘Hello, surprise! Give us your money or we will shut you down!' Screw them. Seriously, screw them. You can quote me on that.” -- Newegg Chief Legal Officer Lee Cheng referencing patent trolls
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