WSJ’s reporter, Mike Ramsey, reported last week interesting numbers about electric cars. Not that you didn’t know this, but it’s far more shocking when all the info is gathered into one place:
Since 2009, the Obama administration has awarded more than $1 billion to American companies to make advanced batteries for electric vehicles. Halfway to a six-year goal of producing one million electric and plug-in hybrid vehicles, auto makers are barely at 50,000 cars.
The nine battery plants where the money went “have created less than a third of the jobs promised by 2015. ”
Some companies are already going bankrupt. Solyndra, anyone? Excuses for failure include: not enough time to build a market, timelines too strict, etc. The actual grants to companies were very strict, just like the Stalinist “Five-year Plans.” A certain number of batteries were to be produced by a specific time. Stupid.
How many times do we have to tell the govt planners – Socialism doesn’t work. Period. End of story. When Socialism comes into an established economy, the bleeding is slower and it takes much longer for the system to fail. However, the systems are failing all over Euroland, except for Germany, which is the least socialistic of them all. What are the others doing to fix their problems?
Extend and pretend. Borrow and hope. Complain and whine. Twist and shout.