Joe Biden Sees A Future That's Already Here

Vice President Joe Biden went to Indiana today to hawk President Barack Obama's plan for spooling up electric vehicles, including instant $7,500 rebates on EVs. Nobody told him electricity is already a cheaper source of energy than oil.

Among the big points of the president's plan: $200 million for charging in cities — which as we found aren't exactly off to a fast start — along with $900 million for research and turning the $7,500 tax credit on EVs and plug-in hybrids like the Chevy Volt into an instant rebate at the dealer. Think of it as "cash for chargers."

Despite wide variations in utility rates, those few folks who do plug in their cars find it costs less already — roughly equal to $2.50 per gallon. Now if only someone could tell him about the myriad other reasons EVs can't compete against gas-powered cars without massive subsidies. Photo: AP [DetNews]