How Oil Companies Saved the Electric Car

A study performed last May found that the average family with 2 commuters in Atlanta spends about $5,700 annually on fuel. Over a five year period, then, the fuel bill for that Atlanta couple will come to around $28,500; and that’s based on the unlikely assumption that gas prices stay at their 2006 average.

Coupled with the fact that a recent U.S. Department of Energy study [PDF] estimates the premium for a plug-in hybrid will soon drop from as high as $12,000 down to between $6,000 and $10,000, the heavens appear to be aligning for a very likely second coming of the electric vehicle.

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