Doc7505
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- Feb 16, 2016
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Electric Vehicles: Costly Virtue Signaling Forced on America by Left
Electric Vehicles: Costly Virtue Signaling Being Forced on Us by the Left
Making an existing product (in this case, cars) less efficient—but more expensive—doesn't really meet the definition of innovation.
www.dailysignal.com
The Left likes to treat skeptics of electrical cars as if they were Luddites. Truth is, making an existing product less efficient, but more expensive, doesn’t really meet the definition of innovation.
Even the purported amenities and technological advances EV makers like to brag about in their ads have been a regular feature of gas-powered vehicles going back generations. At best, EVs, if they fulfill their promise, are a lateral technology.
Which is why there is no real “emerging market” for EVs in the United States as much as there’s an industrial policy in place that props up EVs with government purchases, propaganda, state subsidies, cronyism, taxpayer-backed loans, and edicts. The green “revolution” is an elite-driven, top-down technocratic project.
And it’s increasingly clear that the only reason giant rent-seeking carmakers are so heavily invested in EV development is that government is promising to artificially limit the production of gas-powered cars.
In August 2021, President Joe Biden signed an executive order to set a target for half of all new vehicles sold in 2030 to be zero-emission. California claims it is banning combustion engines in all new cars in about 10 years. So, carmakers adopt business models to deal with these distorted incentives and contrived theoretical markets of the future.
In today’s real-world economy, Ford projects it’s going to lose $3 billion on electric vehicles in 2023, bringing its EV losses to $5.1 billion over two years. In 2021, Ford reportedly lost $34,000 on every EV it made. This year, it was losing more than $58,000 on every EV. In a normal world, Ford would be dramatically scaling back EV production, not expanding it.
Remember that next time we need to bail out Detroit.
Then again, we’re already bailing them out, I suppose. Last week, the U.S. Energy Department lent Ford—again, a company that loses tens of thousands of dollars on every EV it sells—another $9.2 billion in taxpayer dollars for a South Korean battery project. One imagines no sane bank would do it. The cost of EV batteries has gone up, not down, over the past few years.
~Snip~
Really, why would a middle-class family shun a perfectly good gas-powered car that can be fueled (most of the time) cheaply and driven virtually any distance, in any environment, and any time of the year? We don’t need lithium. We have the most efficient, affordable, portable, and useful form of energy. We have centuries’ worth of it waiting in the ground.
Climate alarmists might believe EVs are necessary to save the planet. That’s fine. Using their standard, however, a bike is an innovation. Even on their terms, the usefulness of EVs is highly debatable. Most of the energy that powers them is derived from fossil fuels. The manufacturing of an EV has a negligible positive benefit for the environment, if any.
And the fact is that if EVs were more efficient and saved us money, as enviros and politicians claim, consumers wouldn’t have to be compelled into using them and companies wouldn’t have to be bribed into producing them.
Commentary:
That's as good a summary I've recently read. There is very little market demand for EVs, perhaps 5%, tops 10% of the overall market.
But government will simply NOT let ICE and EV coexist side-by-side, regardless of what the market says. They have a new shiny object to ram down our throats.
Rather than virtue signaling, the Democrat autocracy, EV indoctrination continues to give aid and comfort to the domestic and foreign enemies of the United States.
