Introduction
The history of hybrid electric vehicles in the United States dates back in 1834 when they were first invented. By the year 1900, there were close to 1680 electric automobiles sold within the United States (Mi, Masrur & Gao, 2010). However, the world’s first hybrid electric automobile was built in 1898 by Dr. Ferdinand Porsche that was made using an ice that could spin the generator located at the wheel that could power the electric motor (Kenney, 2010). Quite a number of electric car companies emerged in the United States in the 1920s, with Woods of Chicago and Baker of Cleveland becoming dominant in the hybrid vehicle markets (Mi, Masrur & Gao, 2010). Both companies have been offering hybrid electric cars. However, by 1930, the electric car companies seemed to have faded away until recently when many companies seem to be reviving (Kenney, 2010). This review looks at the impacts of hybrid cars in the economy of the United States with considerations on sustainability, consumer buying, fuel economy and recycling. Moreover, the impacts of these cars on the political relationships with the oil producing, and exporting countries will be analyzed (Fuller, 2008). Lastly, the review will analyze the influence of hybrid car technology in world politics as well as other economic issues like their production and trade.
Effects of Hybrid Vehicles in the United States economy
It will be realized that every U.S. president has been seen to bemoan over-reliance on the import of foreign oil since the time of Richard Nixon. For this reason, several technologies are therefore aimed towards reducing the consumption of crude oil products, and such technologies include the hybrid electric vehicles (Kenney, 2010). It will be realized that hybrids tend to maximize fuel consumption efficiency as they provide the cars with homegrown produced electricity. Therefore, enthusiasts have the hope that hybrid vehicles not only have the potential to positively affect their individual spending, but also on the national economy.
Consumer buying or personal energy expenditures are highly reduced when hybrid vehicles are embraced. For instance, given the cost of gasoline is $2.75 for every gasoline gallon, a hybrid vehicle getting a combined 42 miles per gallon results into an annual cost of fuel that totals to $982, whereas a car that is solemnly dependent on gasoline at 25 mpg normally yields to an annual fuel cost of around $1,650 (Kenney, 2010). Therefore, this is one of the best fuel economies in the United States, whereby the ever ballooning cost of fuel tends to take money away from the citizen's disposable income leading into less retail spending as well as small business investment.
With respect to recycling and sustainability, it has been noted that automobile emissions significantly contribute to larger amounts of carbon dioxide emissions into the atmosphere. This has worsened the implications of climate change. However, the sustainability of hybrids has the potential of increasing fuel efficiency and thereby reducing the rate of carbon emission. The economic effect of warming planet has been found to possess both the mitigation, and the adaption costs.
Lastly, it must be noted that the introduction of hybrid vehicles in the American market has become a major issue of political concern (Fuller, 2008). The continuous manufacture of electric and plug-in cars has in the recent past brushed shoulders with the oil producing and exporting countries as their market share tends to be drastically reduced. However, they fail to understand that the hybrid technology has a great potential of providing much cleaner and fuel efficient options in every class of vehicles as has been the case in the ‘Toyota Prius’, ‘Honda Civic Hybrid’, and the ‘Ford Escape Hybrid’ brands of vehicle in the United States (Fuller, 2008).
Conclusion
Conclusively, it can be deduced that the impacts of hybrid cars in the U.S. economy are quite evident with considerations of sustainability, consumer buying, recycling and fuel economy. Moreover, the impacts of these cars on the political relationships with the oil producing and exporting countries are also evident. The review finalized by analyzing the influence of hybrid car technology in world politics and in economic issues like their production, trade and supply.
References
Fuller, H. (2008). Hybrid cars becoming ever more political, Green-Tech Pastures. Retrieved on
27th October 2013 from <http://www.zdnet.com/blog/green/hybrid-cars-becoming-ever-more-political/927>
Kenney, I. (2010). How Do Hybrid Cars Affect the Economy? Retrieved on 27th October 2013
Mi, C., Masrur, M. A. & Gao, D.W. (2010). Hybrid Electric Vehicles: Principles and Applications with Practical Perspectives, New York, Willey Publications
