Major car manufacturers have turned their attention to the electric car. It began when pump prices in the US rose above US$4.00/gallon in 2007. Some suggest this sparked the global financial crisis. Now it seems US$4/gallon is again not far off, and it’s unlikely to stop there. Nissan decided to jump the hybrids and go straight to all electric. Chevrolet’s Tony Posawatz describes the development of the electric vehicle as the charge, sparking the rebirth of auto cites such as Detroit Michigan. The idea is to displace as much petroleum as possible. Car companies are planning a future where electricity is the common currency of energy rather than oil.
http://www.abc.net.au/rn/scienceshow/stories/2011/3201339.htm