Republicans are considering a new push against what they say are wasteful “green” subsidies in light of news that a recipient of a major stimulus grant for electric vehicle batteries paid workers to watch movies and play games while failing to produce a single battery.
Once heralded as the key to kicking America’s foreign oil addiction by Republicans and Democrats alike, ethanol’s political fortunes have faded and the industry’s future is unclear amid a growing chorus of critics.
GM is practically giving away the Chevy Volt, but that has not been enough to keep it going.
The clean energy field will face some major financial hurdles in the years to come as government loans that have kept the industry afloat begin to dry up, according to a recently released report.
The federal government already offers about $7,500 in tax incentives for buyers of the Chevrolet Volt and the automaker’s electric vehicle has been temporarily discontinued due to lagging sales.
Obama urged Congress to end federal subsidies to oil companies as a way to bring down record gas prices, though it is unclear how doing so would achieve that goal.