A smart move by the utilities, who will benefit from a wholesale switchover to electric cars:
The auto industry’s quest to launch a new generation of electric cars may get a big boost from a sector with much to gain from getting advanced vehicles on the road: U.S. electric utilities.
Top executives at several utilities are mulling the possibility of ordering thousands of the vehicles — known as plug-in electric cars — as an expression of support for the technology they fear could be derailed by the auto industry’s financial traumas. The cars would run primarily on electricity, with gasoline to extend their range, and would recharge by plugging into standard electrical outlets.
Utilities stand to gain by selling the electricity needed to power the cars. Because power companies own tens of thousands of cars for their own company fleets, the idea under discussion involves putting in a substantial order to put weight behind development and, perhaps, persuade Congress to give the auto industry the assistance it needs.
Jeffrey Leonard, CEO of the Global Environment Fund, doesn’t think much of the presidential candidates’ plans to spend heavily on domestically produced liquid fuel–whether it’s oil or ethanol. Instead, Leaonard pushes for big investments in electric cars. From his article, “
