So when will the taxpayers get a return on their $5 billion electric car investment?
In order to restore the structure around the Chevy Volt’s battery and make the cars safer in the unfortunate instance of an accident, General Motors has recalled about 8,000 cars that have been sold over the past two years. Keep in mind, GM only sold about 7,700 Volts in 2011, even though they were heavily subsidized by the Obama administration.
Even though no one seems to want the Chevy Volt (and the few that did were driving around in potential fire traps) that does not mean that someday down the road electric cars won’t be a success.
But if we have learned anything from reckless government spending and the bankrupt Solyndra debacle, that success will come when private individuals and corporations decide to invest. The federal government is not entrepreneurial, as we have seen, and using billions of tax dollars to fund projects that have no market yet only serves to perpetuate this economic crisis.
Read more posts about the government’s green energy spill at the Campfire Blog.
Read up on the Volt recall at Yahoo (350 words/ 3/4 a page).