Scheduled to hit the dealers in 2010, the Chevy Volt promises to revolutionize the auto industry. The Chevy Volt is a plug-in electric car that can go up to 40 miles on a single charge. After 40 miles, a gasaline powered engine kicks in and recharges the battery.
Chevy claims that the Volt is designed to to get 75% of America’s daily commuters to and from work without using a single drop of gas. The American auto industry has been getting a lot of flack lately. Many doubt that the big three can even survive. But the Volt is a sign of true innovation.
The only question is if GM can survive long enough to bring this beauty to market. If the Volt is indicative of the cars GM plans to make going forward (and we think it is), Carbon Free Economy certainly hopes the company does survive. What do you think?
The OPEC cartel agreed on Wednesday to cut production by 2.2 million barrels a day, the group’s largest cut ever, in an effort to put a floor on oil prices.
Since gas prices spiked to $4 a gallon, and as the world’s economies have begun to slip into recession, demand for oil has dropped significantly.
$4 a gallon gas actually changes behavior - people drive less by combining trips or forgoing trips altogether.
Now that oil prices have dropped 70% since their peak less than a year ago, the fear is that history will repeat itself. Americans have a hard time remembering the pain. A change in behavior often proves to be short lived, as old habits resurface over time.
I hate to say it, but a cut in oil production is actually good thing for combating global warming and achieving a carbon free economy. It will hopefully lead to higher prices - and price signals are more often than not the best method for modifying behavior.
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