Porsche has announced that it will make a production version of its 918 Spyder plug-in hybrid concept car.

The car, which was first shown off this year at the Geneva Auto Show, can accelerate to 60 miles per hour in under 3.2 seconds, and reach a top speed of 198 miles per hour. It pairs an electric motor with an eight-cylinder engine. Drivers will be able to putter along for 16 miles using electricity alone. In ordinary hybrid mode, the car can get 94 miles per imperial gallon (about 78 mpg). For the highest performance, select Sport Hybrid or Race Hybrid mode. The latter includes a "push-to-pass" button that delivers a surge of power from the battery.

With Porsche getting in on the electric-powered action, one wonders how up-starts like Fisker and Tesla will manage.

Fossil fuels are the backbone of economies worldwide, so governments spend a lot to support them. A new report from Bloomberg New Energy Finance says altogether governments spent between $43 anf $46 billion on renewable energy and biofuels last year, not including indirect support, such as subsidies to corn farmers that help ethanol production. Direct subsidies of fossil fuels came to $557 billion, the report says.

This disparity raises the question--if the report is right and fossil fuels require so much backing, can they compete with renewables without government support? After all, some renewables--such as sugarcane based biofuels and some wind farms--can already compete with fossil fuels. Without the huge government subsidies for fossil fuels, wouldn't they be eclipsed by renewables?

The answer, for now, is no. So far renewables just can't provide enough fuel and power to displace fossil fuels. The infrastructure to make and distribute them isn't adequate, and many renewables have shortcomings that can make them difficult to work with--solar panels, for example, only generate electricity when the sun is out. If the fossil fuel subsidies disappear, gasoline and electricity prices will increase. That will help renewables compete, and increase in scale, but it will take years--likely decades--for them to reach levels high enough to replace all fossil fuels.

GM has announced that it will sell the much-anticipated Chevrolet Volt--an electric car with a gas generator for extending driving range--for $41,000, which is about what people had been expecting. The automaker notes that with a federal tax credit, the actual cost to consumers is $33,500.

GM starts taking orders for the car today. It will be available initially in California, New York, Michigan, Connecticut, Texas, New Jersey and the Washington D.C. area. To buy one, you need to go to a Volt dealer, which you can find at http://www.getmyvolt.com.

The car costs more than the Nissan Leaf, which is also coming out this year. That car will sell for $32,780, or $25,280 after the tax rebate. Both are far more expensive than GMs new, more fuel efficient sedan called the Cruze, which costs $16,995 and is similar in size to the Volt.

With the Cruze, you can get 40 miles per gallon (with the Eco version). The Volt offers 40 miles of electric range with a charge, and 300-miles more with a range-extending gas generator. The Leaf offers 100 miles of gas-free driving range between charges.