SavingFreakanomics — McCain Could Be Right on Transportation

In his bid to become president of the United State, Senator John McCain has proposed that the U.S. government offer a 300 million dollar prize to the individual or company that can produce a batter that will allow for inexpensive long range travel (100 miles or more).  With so many options out there I wondered why this would be an important development, but then I started looking at what it would mean to own an electic vehicle (EV) I realized that this was a brilliant idea.

I have been trying to find a low cost way for my wife to travel back and forth to work.  Currently she is driving 32 miles one way and with the rise in gas prices this starts to eat away at the budget.  I have compensated by cutting back in other areas but it would be nice if I could just pay less for commuting expenses.  I have looked at many different options and the EV makes the most sense from a per day cost analysis.  The problem is they are expensive to buy, expensive to convert and expensive to maintain.  Purchasing one is out of the question because they haven't really been around long enough to create a competitive market.  Converting a gasoline running vehicle makes sense since it would only be a one time expense and electric motors will last longer than the other parts inside the vehicle.    The only drawback is the maitenance and the one thing that kills the price is the cost of replacing batteries every three to five years.  The current batteries available to the consumer are either expensive or do not last very long (the cheap ones break and the good ones cost too much). 

This technology could completely change the cost of commuting to work.  Right now the cost per mile of an EV is between three and seven cents.   To put that in perspective at $4.00 a gallon a vehicle would have to get 60 miles to the gallon to get the same cost per mile.  The best part is you do not have to give up your SUV.  The electic motor could be used to power any type of vehicle you like.  That is what makes this idea so great.  You don't have to go riding around in a micro machine in order to experience significant cost savings.  $300 million is only one dollar for every man, woman, and child in the U.S. and this kind of technology would make all of our lives better.