Tuesday, November 6, 2007
Oil may hit $100 a barrel this week as fighting continues in oil rich countries. Electric automobiles can not come soon enough. GM has introduced an electric rechargeable concept car called the Volt that has been getting a lot of attention. The Volt is projected to get about 40 miles on a single charge, which should cover most Americans commute. This concept may be counterproductive if the electric companies can not find an alternative source of energy like wind or solar (many electric companies currently use coal). GM is projected to build as many as 60,000 cars in the first year with a target price between $20-30k. Sign me up.