Electric cars are truly stupid - almost as stupid as hybrids (but thats another story). I just saw the commercial of the polar bear hugging the owner of an electric car. First polar bears are not hugable creatures and are more likely to bite the guy's head off than to hug him. Secondly, the bear should be laughing at the dumb consumer. Electric cars have virtually no range and are only good for urban commuting - if that. Second, they take overnight to charge. So it makes sense to drive your electric car on your hot date because you won't be able to get back home and would have to stay overnight. Third, the cars look like little butt-ugly death traps. How in the world did they ever pass the crash tests? Fourth, the battery backs typically account for one third to one half of the vehicle costs. Did that salesman tell you that in around 5 years you will have to come up with $15,000 for new batteries. Fifth, in addition to not being able to take a trip in them due to limited range and no room for baggage, you can't tow anything. That rules out the boat, the camper or the motorcycle trailer. Rather you will have to tow it behind your motorhome or your Ford F350. So what's more stupid than electric cars? The Obama Administration's mandate that fleet mileage standards must move to 62 miles per gallon by 2025. That is not obtainable unless you eliminate all the trucks and fun to drive cars - even with anticipate increases in technology. I have said it before: Obama hates trucks, RVs and travel trailers. His rules will kill the industry. Also, conservative estimates are that the price of vehicles will rise by about %5,000 per car. All of this insanity is supposed to be necessary to save the planet - hence the grateful polar bear. Give me a break.
Harold A. Black is professor emeritus in the Department of Finance, University of Tennessee, Knoxville having retired after 24 years of service. He has served on the faculties of American University, Howard University, the University of North Carolina - Chapel Hill and the University of Florida. His government service includes the Office of the Comptroller of the Currency and as a Board Member of the National Credit Union Administration. He also has served on the boards of directors Home Savings of America and its parent company, H. F. Ahmanson & Co., Irwindale, California prior to its merger with Washington Mutual Savings Bank, on the board of New Century Financial Corporation, Irvine, California, then the nation’s largest real estate investment trust and as director and later chairman of the Nashville Branch of the Federal Reserve Bank of Atlanta. He writes an occasional article for the Knoxville News-Sentinel at http://www.knoxnews.com/staff/dr-harold-black/. His web page is haroldablackphd.com