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Tuesday, April 25, 2006

Why I love High Gas Prices

In a market economy, when prices rise, firms have an incentive to provide lower cost alernatives to existing products. When oil is cheap, there is no incentive to research and develop energy effecient alternatives such as this:

Lithium-Battery Cars May Deliver 300 Miles Per Charge

A company may soon offer American motorists a new option to save on high gas prices -- vehicles powered by lithium batteries, according to a Local 6 News report."Just plug in these cars for about five hours or so and you'll get about 300 miles on a single charge," Sosa said.

The cars can travel up to 100 mph, according to the report.

The vehicles cost about $35,000 or about double what buyers would pay for a gas-powered model.
In fact, the higher gas prices go, the more economical lithium powered cars look, even at $35,000.