When do EVs become economical?

From “Pull the Plug on Electric Car Subsidies” in today’s Wall Street Journal:

If you’re looking for a car that makes good economic sense in these tough times, PEVs simply don’t make the grade. Unless crude oil prices rise close to $300 per barrel and battery costs fall by 75%, a PEV is more expensive than a gasoline-powered vehicle.

… and neither, let alone both, will be happening any time soon.