ANALYSIS: What You’re Not Being Told About the Electric Vehicle Revolution

Contact Your Elected Officials
The Epoch Times Header

While the Biden administration cannot force you to buy an electric car, it can, by capping tailpipe emissions and other coercive measures, compel producers to severely curtail the manufacturing of internal combustion engine (ICE) cars and drive up the cost of gasoline-powered cars. This will likely result in a fundamental restructuring of America’s automotive industry, which accounts for about 3 percent of U.S. GDP and employs more than 1.7 million Americans.

The Biden administration’s auto industrial policy features a combination of ever-tightening emissions regulations, subsidies to electric vehicle (EV) auto manufacturers, and government payments to EV consumers. The Infrastructure Law, passed in 2021, featured $25 billion for things like charging stations, EV production, and mining. The 2022 Inflation Reduction Act doled out billions more in subsidies, and several European countries and U.S. states have banned or plan to ban the sale of new ICE vehicles over the next several years.

The most recent effort is new Environmental Protection Agency (EPA) regulations that will set significantly higher CO2 emissions standards for passenger vehicles, heavy trucks, and buses. This follows President Joe Biden’s directive that half of all new passenger vehicles and trucks should be zero-emission vehicles (ZEVs) by 2030.

These regulations, Biden claims, will cut 10 billion tons of CO2 emissions by 2055. And according to the EPA, EVs aren’t just good for the planet but they also are good for your wallet. Buying an EV will save the average American an estimated $12,000 over the life of the vehicle, the agency claims. The EPA states that the benefits of its new emissions standards will exceed costs by at least $1 trillion.

However, some analysts say these numbers don’t add up. They predict that Biden’s EV industrial policy will fail about as badly, and prove about as costly, as most other government schemes to direct and micromanage private-sector industries.

There are many reasons to question whether an automotive industrial policy favoring EVs makes sense. But here are four claims in particular that analysts challenge.

Claim 1: Electric Vehicles Are Good for the Environment
Claim 2: America’s Electric Grid Can Power EVs
Claim 3: Electric Vehicles Are Affordable, Superior Products
Claim 4: Electric Vehicles Are a Good Bet for America’s Automakers

By Kevin Stocklin

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Truth & Treason

World War II has long served as a compelling...

Is an American confusing England for Britain a problem?

The difficulty is when Americans try to engage with British politics, where they keep saying "England" rather than "Britain."

Charlie Kirk Assassination Links Back to Israel

Those who really know how to use the tools...

Lessons from the Cleavers: “Leave it to Beaver” Can Teach Us A Lot

A Gen-Zer reflects on growing up watching Leave It to Beaver, grateful for the shows timeless lessons and and the values it taught.

Why Democracy, not Caesar, is the answer to our problems

Caesar-style leadership wins quick public support but inevitably sparks passionate resistance, conflict, bloodshed, and lasting social destabilization.

Judge Widens Block on Shutdown-Related Layoffs to Cover More Federal Workers

Judge expanded her order blocking Trump admin mass layoffs during the govt shutdown, extending job protections to more workers.

When Government Could Reopen–Key Dates to Watch

Federal govt shutdown enters third week with Congress deadlocked and no negotiations in sight as key deadlines loom to test lawmakers’ resolve.

Reader Poll: Hold Financers, Organizers Accountable for Political Violence

Respondents to our reader poll think authorities should examine the funding and coordination behind political protests that turn violent.

Boeing Gets FAA Approval to Increase 737 Max Production

FAA has granted Boeing approval to increase output of its 737 Max airplanes, easing limits imposed after last year’s Alaska Airlines mid-flight incident.

Army Corps of Engineers to Pause $11 Billion in Projects During Shutdown: Vought

Russ Vought, director of the White House’s OMB, has added to the growing pile of federal projects paused during the government shutdown.

Trump Signs Executive Order Putting New Restrictions on Federal Hiring

Trump signed an executive order directing federal agencies to restrict hiring, with exceptions for immigration, security, and political appointees.

Trump Says He Has Authorized Covert CIA Operations in Venezuela

President Trump authorized covert CIA operations in Venezuela, expanding U.S. assets there to increase pressure on President Nicolás Maduro’s regime.

Trump Posthumously Awards Charlie Kirk the Presidential Medal of Freedom

President Trump posthumously awarded Charlie Kirk the Presidential Medal of Freedom in the White House Rose Garden on Oct 14, Charlie's birthday.
spot_img

Related Articles

Popular Categories

MAGA Business Central