"GM wouldn't be in quite so deep a hole if it had not sunk a billion dollars, and much of its corporate reputation, into a not-very-realistic plug-in electric hybrid vehicle known as the Chevrolet Volt."
"Unless and until gas prices shoot up, you'd be crazy to buy one of these much-ballyhooed vehicles..."Essentially he saying that even the success of the electric car ensures its failure. Wow.
"To be sure, the green-leaning Obama administration has not ruled out allowing a restructured GM to continue pouring (federal) money into the Volt. But I hope it won't. The Volt and other electric vehicles could gobble up more subsidies than ethanol."
"Indeed, to the extent that we use more electric cars, we reduce the demand for petroleum, which drives down the price of petroleum, which makes electric cars less competitive with gas-burning ones."
Read the entire (hit) piece here.