Gas prices today are below $2 a gallon and likely to stay there, which makes buying an electric car a hard sell.
"We'd all like to save the environment, but maybe not when it costs hundreds of dollars per year," Jessica Caldwell, director of industry analysis for Edmunds.com, told The New York Times. Low gasoline prices are leading even owners of electric vehicles to "defect" to gasoline cars.
The MIT study states that electric vehicles aren't helping the environment either. Only 12 percent of conventional power plants are green enough that charging an electric car from them leads to fewer emissions than the gasoline power vechiles they replace.
Even though electric cars can be eligible for up to a $7,500 tax credit, the are still incredibly expensive. Bloomberg projections estimate that it will take until 2040 for electric cars to cost less than $22,000. There are still huge barriers to electric cars, according to a 2015 report by the National Research Council.
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Source: Cheap Oil Is Killing The Electric Car
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