Thursday, April 21, 2011

The Stupidity Of The Chevy Volt, Explained

McDaniel at PJM:

"What better market for a car no one wants than a government work force that is now at an all-time record of 2.15 million and constantly increasing? And what better way to provide the transportation needs for that artificially conjured market than “advanced technology” vehicles that will cost substantially more than comparable conventional vehicles? Forget not the astronomical additional cost of the huge charging infrastructure that will be, of necessity, installed at federal facilities throughout the nation. Mr. Obama will no doubt tout the plethora of jobs 'saved or created' in this pursuit, for the few weeks — or months — that they last.

"From where will come the extra electric generating capacity necessary to power this short-ranged but mighty green fleet? Has not Mr. Obama essentially shut down the construction of new power plants, despite his recent rhetoric seemingly to the contrary? The charging infrastructure alone will represent one of the most egregious cases of corporate welfare and cronyism in American history. Guess which corporation currently close to Mr. Obama’s heart and the taxpayers’ pocketbooks is already marketing EV charging stations? That’s right: General Electric. What a coincidence.

"Won’t the $7,500 rebate help? GM tried that already when it announced that it had paid off one of its government loans early — by using money loaned to it from federal TARP funds. The Obama administration is certainly not above financial chicanery, but taking money out of a left pocket only to transfer it to the right might embarrass even Timothy Geithner or Ben Bernanke.

"Whether the economic damage already wrought through action and inaction by Mr. Obama can be undone remains an open question. With his political wings clipped by a Republican House, Mr. Obama plainly intends to do by executive mandate what the law and legislature will not allow, and this end run around free enterprise is but a single recent example. With projects like this vehicular 'advanced technology' boondoggle, it seems ever more likely that economic ruin is the future — a future into which Mr. Obama is plunging the nation with advanced technology, at warp speed."