LyrArc Article Gist
A large increase in fuel efficiency as planned by new EPA rules creates a different environment for electric cars. Current average fuel economy is 26. New rules that raise the average fuel economy to higher than 47 mpg will result in cars that conserve gasoline, reduce emissions, and make these vehicles more attractive to operate than electric cars on a cost basis, without sacrificing too much in conservation and emissions. A new study shows that achieving the increase to 47 mpg with new technologies will cost automakers about $2000 per vehicle. At $4.50 a gallon for gasoline it takes six years for a hybrid to be more cost effective than a 47 mpg car, according to this study. For a plug-in it would take 7 years and a pure electric vehicle 8 years. This suggests gasoline would have to cost more than $4.50 for electric cars to get an economic advantage. Technological breakthroughs and new technologies in electric cars which are a nascent industry at this time are not worked into these calculations. This could result in a different situation and favor the companies doing the pioneering effort to learn these technologies and develop cost effective solutions....

LyrArc Article Gist
Axel Weber, former Deutsce Bundesbank president, will becomes the new chairman of UBS bank in 2013.

LyrArc Article Gist
Furstenberg describes the U.S.'s first great depression of thelate nineteenth century. She sees similiarities between the booms and bust cycles of that period and today's boom and bust cycles in the economy.