The Price of Gasoline and the Perception of Global Warming

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The Prius was born to some extent of GM's dire need for a change of image. The price of gasoline and the world's perception, the public's perception of global warming are two things that are totally out of GM's control. How much of this gamble depends on those events that are outside their control is incredible really.

Jonathan Rauch, of the Brookings Institution and the Atlantic Monthly, talks with EconTalk host Russ Roberts about the evolution of the Chevy Volt, GM's planned electric car. Due to the transparency of GM's effort, Rauch was able to spend a great deal of time on site at GM writing a piece for the Atlantic Monthly on GM's plans and hopes. Rauch discusses the huge risks, GM's past failures, and GM's hopes that the Volt might change the company's culture. The conversation closes with a discussion of competitors and the implications for energy policy.