Obama: 1 million plug-in hybrid vehicles by 2015

Democratic Presidential hopeful Barack Obama has proposed a new ten-year $150 billion energy plan today in Michigan. A large part of the plan centers around transportation -- both the use of petroleum and the types of cars we are to drive in the future. For automakers, $4 billion in loans and loan guarantees would be made available for PHEV development, with one-million of the vehicles to be ready for sale by 2015. For consumers, a $7,000 tax credit would be offered for their purchase of said vehicle. Also, in a more short-term effort, Obama proposes that the U.S. sells some seventy-million barrels of oil from America's strategic petroleum reserve.
While those PHEVs are being developed, Obama's plan would increase fuel economy standards 4-percent per year. What's more, Obama would mandate at least 60 billion gallons of advanced biofuels by 2030 while requiring that fuel producers reduce their fuel's carbon emissions by 5 percent within 5 years and 10 percent within 10 years. To make those biofuels have as large an impact as possible, all new vehicles would be required to have flex-fuel capability within four years.

Lastly, the entire White House fleet will be converted to plug???ins within one year (does this include the new presidential limo that will debut in January?) and half of all cars purchased by the federal government will be plug???in hybrids or all???electric by 2012. See the entire plan in .pdf form at this link.

[Source: Barack Obama - .pdf]

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