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“Number three is the need to present a common front in terms of public policy. We need to find a reasonable incentive to level the playing field between the technology that exists today, and has an 80 to 100 year install base of capacity and intellectual property and development—against the new technology that’s in its infant stage.
“For example, for as good as the Chevy Volt battery package is—and we’re using the latest and greatest battery technology—the Volt battery pack contains the energy equivalent of about a gallon of gasoline. The Volt battery pack is about six feet long across the length of the ‘T,’ and the top of the ‘T’ is about three feet. It weighs about 400 pounds. And yet it has the same amount of energy in that rather large battery pack as one gallon of gasoline that weighs about six pounds. That’s a fact.
“So, do we have more to go in terms of battery technology? You bet. But you have to walk before you can run. We’re out there working on the very best battery pack, yet when you compare it to the incumbent fuel, gasoline, you can see that there are some very significant factors that favor gasoline as an automotive fuel. It’s not a conspiracy. It’s a simple fact. Gasoline is a very effective automotive fuel. Now, it has other side effects that we don’t like, but when you view it in terms of one metric, energy density, liquid fuel is a very good fuel.
“Now, we need to develop the other fuel, which is electricity, and we will. But it’s going to take a little while for us to build the same type of advancement as the one that’s been in place for the past 80 to 100 years.”