This article was first published by The McAlvany Intelligence Advisor on Friday, April 24, 2015:
Back before his credibility had been so greatly tarnished along with his confidence in government as a solution to every problem, President Obama made a promise in his 2011 State of the Union speech that realists knew he couldn’t keep: he was going to put one million electric and hybrid vehicles (EVs) on the road by 2015:
With more [government funded] research and [tax credit] incentives, we can break our dependence upon oil … and become the first country to have a million electric vehicles on the road by 2015.
The Department of Energy (DOE) called his proclamation a “key milestone toward dramatically reducing dependence on oil and ensuring that America leads in the growing electric vehicle manufacturing industry.” The agency boasted that already those manufacturers were ramping up to produce more than 1.2 million EVs by 2015, thanks to government subsidies, consumer tax credits, federally funded programs to help cities prepare for the growing demand for EV charging stations, as well as continued and increasing “support” [read: grants and loans] for R and D.
It’s 2015. The manifesto proclaimed from on high in January 2011 has fallen a little short: