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I figure coal at high thirties in a lithium PHEV would be about ~29-30% efficient, the best hybrid out right now is only ~21-22% efficient, not to mention it's way easier/cheaper to regulate emissions from one big source than from millions of mobile ones. Some emissions may go up/stay up, but for the most part I think it'd be worthwhile in terms of emissions/energy, although probably not cost the way oil prices are going.
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