Even from coal, electric produces less CO2 than gasoline. However, from your post it sounds like your main concern is financial.

Even when paying 10 cents per kWh, electric per mile costs are half that of gasoline per mile costs at 50 mpg.

Fuel costs are free if you make your own electricity at home.

http://mysite.wanadoo-members.co.uk/ecotech/ecot.htm