Take Back America
The Obama administration has poured roughly $5 billion in taxpayer funds into the electric-car industry, offering incentives to manufacturers, their suppliers and even car buyers who might want to go green. But analysts say the risk is rising that taxpayers in many cases will not see a return on their money soon, if ever. Instead, they warn that some federally subsidized companies could be forced to shut down in coming months, says the Washington Post.
Obama predicted in 2008 that green cars would create thousands of new U.S. jobs as demand soared. But in recent months, production lines and sales expectations have been dramatically scaled back.
Many warned early on that economics did not support the administration's push. Now some fear failures may undermine industry support.
Source: Carol D. Leonnig and Joe Stephens, "For Obama's Green-Car Revolution, Fits and Starts," Washington Post, December 7, 2011.
For more on Environment Issues: