Government Pays Al Gore Backed Company to Build Cars For the Wealthy

This story is unbelievable; I had to read it twice and really slow, just because I was so flabbergasted. The Obama administration has given half a billion, yes billion dollars, to a company called Fisker. They make electric cars for the very wealthy and of course these cars also use more fossil fuels than your average SUV or gas guzzler. Not only that but, the cars are being made in Finland. The company is behind on their production as well.

So, we have another failed government project, one that was obviously backed by the government because of Al Gore, cars that are inefficient but are being touted as clean energy, cars that are not suited for the average buyer but rather the top 1%, and jobs being given to people in Finland, not the United States. Wow.

According to ABC:

Fisker is part of a $1 billion bet the Energy Department has made in two politically connected California-based electric carmakers producing sporty — and pricey — cutting-edge autos. Fisker Automotive, backed by a powerhouse venture capital firm whose partners include former Vice President Al Gore, predicts it will eventually be churning out tens of thousands of electric sports sedans at the shuttered GM factory it bought in Delaware. And Tesla Motors, whose prime backers include PayPal mogul Elon Musk and Google co-founders Larry Page and Sergey Brin, says it will do the same in a massive facility tooling up in Silicon Valley.

Click title of this post for the article on The Blaze. 

Forbes reports:

The Fisker Karma electric car, developed mainly with your tax money so that a bunch of rich VC’s wouldn’t have to risk any real money, has rolled out with an nominal EPA MPGe of 52.

Not bad? Unfortunately, it’s a sham. This figure is calculated using the grossly flawed EPA process that substantially underestimates the amount of fossil fuels required to power the electric car…

As I calculated in my earlier Forbes article, one needs to multiply the EPA MPGe by .365 to get a number that truly compares fossil fuel use of an electric car with a traditional gasoline engine car on an apples to apples basis. In the case of the Fisker Karma, we get a true MPGe of 19. This makes it worse than even the city rating of a Ford Explorer SUV.

Oh, boy.