Fisker tries it’s hand in hybrid

 President Obama’s pledge to lead a green revolution may materialize, whether we like it or not. 

Last Tuesday, the U.S Department of Energy approved a $528.7 million loan for the hybrid electric car company, Fisker.

Based in Irvine, Fisker Automotive researches and produces plug-in hybrid electric vehicles. Last month, they completed their first model, the Karma, as a lean green speed machine, boasting 67 miles 
per gallon with a 403-
horsepower engine. 

The retail price stands at $87,900. Fisker is also working on a new mainstream model called Nina. It is estimated to be released in 2012 with a $39,900 price tag.

The loan Fisker received 
is part of the DOE’s 
Advanced Technology Vehicles Manufacturing Loan Program. This program loans money to 
car companies and car part suppliers to allow them to upgrade their tools, manufacture better equipment and establish new facilities to create more 
eco-friendly products. 

As a result, American car companies could competitively produce more efficient parts and vehicles domestically and globally. Also, jobs are kept and created for American engineers, researchers and service workers.

However, such a hefty loan would not be the first one approved by the DOE. Prior to Fisker, the ATVM has extended to three other car companies: Ford received $5.9 billion, Tesla received $465 million and Nissan received 
$1.6 billion.

Mind you, these loans are approved by the DOE to be loaned from the federal government. Amidst the jabbering over the spending over health care and the war overseas, over $8 billion is being spent under our noses. 

That is $8 billion of hard-earned taxpayer money being signed off to these automotive companies, without a vote or even a suggestion from the 
American public.

The average U.S. citizen may not even reap the benefits of their involuntarily donated taxpayer money. Fisker’s Karma retails at $87,900, well above the price range of the single mother working two jobs, the aspiring musician, or your starving 
college student.