Investors beware of the electric car, because, as a New York Times article reveals, even the Big 3 in Detroit are wary. Alternative energy in all forms could be the biggest potential bubble for investors. But green automobiles can be particularly hazardous to your portfolio because of the visceral reaction to volatile gas prices.

The thinking goes that if consumers are dumping SUVs there must be an equal and opposite reaction that would create a stampede to green cars. Well, maybe one day consumes will make that stampede. However, the Times’ article shows consumers’ reaction as more of a trickle.

Electric cars will attract a lot of attention at the Detroit Motor Show this week. The luscious booth babes of the muscle cars exhibits are being replaced deer robots in fake forests.

As the Times reports, the major automakers are feeling pressured to pour billions into the rapid development of electric cars when they can least afford it. Apparently, this mad rush into electric cars is driven more by the competition than by actual near-term demand.

The Times writes: “Strong consumer demand has to be part of that equation, too. And it remains unclear whether consumers will be comfortable with the idea of buying an electric car, or whether these vehicles will priced to compete with comparable gas-powered models.”

While Detroit expects financial help from President-elect Obama to both auto makers and consumers, the only subsidized market that really seems to make investors money is the military.

Currently, Ford plans to make only 10,000 of the electric vehicles a year at first — very few by Detroit standards — to test the market cautiously, according to the Times.

Now take into consideration that Toyota, Nissan, Mitsubishi, Subaru, GM, Chrysler and host of upstarts are rushing into this market, and you see that the casualty rate will be pretty, darn high (with triage coming from U.S. taxpayers).

Chevrolet has been touting the forthcoming Volt at a price of $40,000. With 2 million people losing their jobs and last, and another 2 million expected to join the ranks of the unemployed in 2009, who has the money to spend on that when their 2003 Chevy Trailblazer is chugging along just fine?

No one has money to spend on any new car…gas prices are still down…and battery technology still remains in its infancy.

If you contemplating an investment in electric cars, we recommend that you hit the brakes now.