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Manhattan Institute Senior Fellow Robert Bryce argues subsidies for electric vehicles are a waste of taxpayer money.
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This story well it it gets increasingly interesting for you the American taxpayer because -- and more than one quarter.
A General Motors GM now looking at a link -- government investigation.
Over those fires and it electric Chevy vault.
GM says a coolant leak is what -- three of the volt batteries just barker catch fire.
Days or weeks after being damaged in government crash test -- -- says the battery is safe -- the problem can be fixed without a major redesign.
The Wall Street Journal is reporting that the National Highway Traffic Safety Administration.
Is not convinced.
But the bigger question is will the government ever stop subsidizing electric vehicles.
These alternative fuels.
Forms of transportation.
You name -- -- billions of dollars into it Robert rice's senior fellow at the Manhattan institute and he joins us now from Austin, Texas.
Robert -- -- I would just start with the bulk -- -- that that is kind of the to great extent.
Acclamation point right now.
Even more so than so -- on how many billions of dollars that we reported to subsidizing these electric vehicles.
Well I don't know the exact number on the subsidies for TV's -- -- but it's clear that the Obama administration as long as President Obama is in power.
The Department of Energy in the federal government are going to continue subsidizing.
TV's of all kinds.
And you point out that the volt.
I've written recently about the 529 million dollar loan guarantee that the federal government provided to sister automotive.
Which is now building -- hybrid electric high performance sedan in Finland.
That costs 97000.
Dollars so.
In my view all I mean nearly all of these subsidies for electric vehicles are are are really a waste of taxpayer money.
Look at this is it may sound like a silly basic question to ask but what is the obsession.
With electric vehicles because even -- -- dead presidents.
Auto task force that oversaw General Motors after -- bail out bailed out said the volt was not at financially viable vehicle.
Well and I don't understand it frankly either -- and if you look at the history of the electric car it's a century of failure tail -- failure.
We've heard about the electric car now for decades electric cars -- the next big thing and they always will be.
But but yet this administration is is fixated on them but consumers clearly are not if you look at the sales data from October.
Excuse me the Nissan leaf and then and the Chevy Volt.
Only captured about two tenths of 1%.
Of all new car sales so consumers are buying them consumers are looking for cars that provide greater flexibility longer range etc.
And Robert I did say I also said this obsession with alternative fuels -- you wrote recently about range fuels which is a sailors and ethanol company.
A government guarantee an eighty million dollar loan that their company defaulted -- But you know what I would call vividly even President Bush singing the praises.
Of cellulose to ethanol and and making fuel out of essentially twigs and grass so it's not deserve one administration that seems to think that.
-- were somehow kind of solve our energy problems with these newfangled fuels.
-- it it it -- part of the blame of course I think goes with the Obama administration.
President Obama and secretary you have both been.
Big backers of biofuels in the bio fuel craze.
But -- right President Bush also promoted cellulose ethanol.
Claiming somehow that.
That we can make switch grass and wood chips shed two large quantities of ethanol.
But the fundamental problem here was about basic math if you look at the range fuels disaster and it is a disaster.
Eighty million dollar loan guarantee from the Department of Agriculture 76 million dollar grant from the Department of Energy.
Just replacing 10% of America's oil with -- based biofuels -- required.
A 150%.
Increase in US would consumption the math never worked on it and yet they gave these guys -- grant and and a loan guarantee anyway.
I don't mean to laugh but when you think about us -- As innovation he's -- what day it's okay if you don't if you.
If you don't laugh you cried -- -- and by the way we're going to be this year likely net exporters of gasoline and other fuels because demand here is -- and so when it comes down to that fossil fuels.
That's what we use as a world.
It Robert -- great to see Robert Bryce take -- yourself thanks -- thanks thing.
