Eliminate Oil & Gas Subsidizes
Re-invest funds in hybrid car purchase rebates
Stop oil and gas subsidizes and provide a $5,000 rebate payable to the dealer for the purchase of a new hybrid car.
As of 2009 there were 1.6 million hybrids on the road. The total number of passenger vehicles as of 2008 was 137 million. Thus, the current hybrid utilization is about 1.2% of all passenger vehicles!
By eliminating oil and gas subsidizes we could save approximately 90 Billion dollars over the next 10 years. If these savings were directed to provide a $5,000 cash rebate, payable to the dealer when a new hybrid was purchased, this would generate up to 1.8 million additional Hybrids on the road each year. Over 10 years this would amount to 18 Million hybrids.