1- Calls for federal investments of $150 billion over 10 years for next-generation fuels and for commercialization of plug-in hybrids.
2- Wants an expansion of locally-owned biofuel refineries.
3- Plans to add 36 billion gallons of renewable fuels to fuel supply by 2022.
4- Intends to double fuel economy standards within 18 years, while offering tax breaks and federal loan guarantees to US auto companies.
5- Calls for federal tax credits for hybrids.
6- Wants all new cars to be flex-fuel vehicles.
1- Wants to create a tax credit for consumers of up to $5,000 for buying a green car.
2- Plans to establish penalties to car companies for violating federal fuel-efficiency standards.
3- Calls for a $300 million prize to improve battery technology for plug-in hybrid or electric cars.
4- Wants to remove or reduce tariffs on imported ethanol.
What is interesting, however, is that both McCain and Obama have recently come out in support of off-shore drilling for oil. Such a move sends a message to automakers to continue production of internal combustion engine vehicles, rather than stimulate alternative vehicle development.
As we move into the next U.S. Presidency, it is important for potential candidates to consider the wider ramifications of green car policy development. Such initiatives need to be thought out in a comprehensive fashion to avoid sending mixed signals to the industry.
[Source: Christian Science Monitor]