Again, I am not against developing electric cars or people buying them. I'm against tax subsidies for what essentially is a richman's toy right now. Technically, Porsche 918 and McLaren P1 qualify for the $7500 tax rebate. WHY? That's the stupidest rebate I can think of.
Oil is subsidized. Oil is also subject to enormous and incredibly onerous environmental regulations. There hasn't be a new refinery built in the US since the 1970s. Every single refinery we have today is 40 years or older. There's only so much we can do to upgrade them and keep them running. They are at capacity right now. Whenever there's a disruption, the price goes up. And disruptions show up every single year when refineries need to shut down for maintenance.
So far, oil is on my side. We have so much of this stuff people don't know what to do with it. This is after oil hit $140+ a barrel in 2007/8.