Posted on 11/22/2013 8:38:27 AM PST by jazusamo
I have to hand it to General Motors and those Chevy Volt supporters who continue to come up with creative ways to espouse the virtues of the slow selling and heavily subsidized vehicle. They just won't give up. The latest figures being presented in political fashion utilize large numbers that, on the surface, appear impressive. When analyzed, the figures give more insight into just how much taxpayer money is being wasted on green subsidies, particularly on electric vehicles (EVs). Sound the trumpets! According to Green Car Reports, the Chevy Volt has saved 17 million gallons of gas to date.
Now it's time to break down what the numbers really represent. Let's start with what it cost taxpayers to save the wealthy owners of President Obama's favorite car 17 million gallons of fuel. The estimate for total cost to taxpayers to produce and subsidize the Volt is about $3 billion. That includes all initial grants for production along with ongoing federal and state subsidies. Congratulations America, you just bought 17 million gallons of gas at the price of $176 a gallon. Only extreme left-wing ideology and logic would consider that something to brag about. Unfortunately, Republicans on the right don't seem too concerned with ending the waste either.
Even excluding grants and the state subsidies, the federal subsidies alone ($7,500 each for the approximate 50,000 Volts on the roads) amounts to $375 million or $22 per gallon of gas saved. This subsidy is ongoing and is not slated to stop until GM sells its 200,000th Volt. At the current pace we have about eight years and over $1 billion of federal subsidies to go.
Let's look at the gas savings' numbers another way to see what we are getting for our huge investment in the Volt. According to the US Energy Information Administration, America used roughly 400 billion gallons of gas in the three years that the Volt has saved 17 million gallons. We were able to reduce America's gas consumption .004% at the cost of $3 billion. America uses 17 million gallons of gas in about one hour. $3 billion for one hour's worth of gas. Only GM and our free-spending government would think that this was taxpayer money well-spent.
So when you see the next article bragging about how much Americans have "saved" with the Chevy Volt, you will be a little more informed than the masses that get the spin from politically influenced sources. GM continues to spew deceptive data on the Volt as taxpayers continue to foot the bill. A logical assessment of what we are spending to force the current generation of EVs on the public through subsidization that benefits only the wealthy purchasers of such vehicles can lead to only one conclusion. The $7,500 federal tax credit for EVs should be ended now.
Mark Modica is an NLPC Associate Fellow.
Yes, its end is long overdue.
Working link:
http://nlpc.org/stories/2013/11/22/taxpayers-pay-176-gallon-gas-%E2%80%9Csaved%E2%80%9D-chevy-volt
Great metric !
US $$$s per gallon of gas.
I wonder if you have to pay a tax on that tax credit. The government never gives away anything for free.
After another few years of Obama’s horrifying Mideast policies and repression of domestic energy production, $176/gallon might be the going rate.
I hear you. That’s one thing I don’t think they tax but they’ll probably figure a way to do it:)
For liberals, though, it’s worth every penny for the amount of self-righteousness they derive from their advocacy for “saving the erf”.
How many pounds of coal were burned to produce those “saved” gallons of gas?
It’s worth it to save the planet from all that horrible pollution Repugnicans want to push into the atmosphere. /s
another subsidy would be the one supporting windmills and their negative impact on the electricity generating industry.
How does the rule read: If you want more of something, subsidize it, if you want less of something tax it.
What would have happened if the Federal government had been involved in picking winners and losers through massive taxpayer funded subsidies as the automobile was initially developed in the early 20th century? My guess is that inefficient, unworkable machines designed by companies with political connections would have enjoyed an insurmountable market advantage over true innovations.
The end result would have been a massive Federal bureaucracy dedicated to making horses go faster.
Like that credit for the “Cash For Clunkers” cars a few years back. Those people had to pay a tax on that money.
I believe cash for clunkers was a rebate but this EV tax credit is deducted from the tax you owe. If a person only owes say $6500 in taxes they don’t get the full tax credit.
Several years ago a dummy I know was bragging that GM had paid the US back. I wonder what he’s saying now that the government is admitting it will lose $13 billion.
Yep, GM and a lot of libs made a big deal out of that lie. I just saw that Treasury is supposed to sell all remaining GM stock by the end of the year.
What a deal....if only we could get the same kind of deal on Obamacare subsidies and Medicaid assignments for leeches and illegals.
How much ethanol was saved?
How many dollars did the corn lobby lose?
That is the real question.
Current technology has shown we can get a diesel engine just as clean as a gasoline engine, though at a pretty high cost, especially with the urea injection system into the exhaust stream. But more recent research shows that we can get a diesel engine to meet even the ultra-stringent CARB SULEV (I believe that's the equivalent of EPA Tier 2 Bin 3) standard without using urea injection; if we can make that practical, imagine automobiles with 35% higher fuel economy and a torque curve well-suited for driving in poor weather conditions and for towing trailers.
114 lbs of coal were burned for every gallon of gas saved.
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