Doc7505
Diamond Member
- Feb 16, 2016
- 15,717
- 27,674
- 2,430
Cost Of Driving Electric Vehicle Equal To Paying $17.33 Per Gallon Of Gasoline, Study Finds
A comprehensive new study of electric vehicles shows that the cost of running them is far more expensive than has been commonly thought. Brent Bennett and Jason Isaac issued their report for the Texas Public Policy Foundation, pointing out that advocates for electric vehicles claim the vehicles require lower maintenance and lower fueling costs than traditional vehicles, and future reductions in battery prices will make EVs less expensive.
But, they argue, “no one has attempted to calculate the full financial benefit of the wide array of direct subsidies, regulatory credits, and subsidized infrastructure that contribute to the economic viability of EVs.”
They give evidence that “the average model year (MY) 2021 EV would cost $48,698 more to own over a 10-year period without $22 billion in government favors given to EV manufacturers and owners. … Adding the costs of the subsidies to the true cost of fueling an EV would equate to an EV owner paying $17.33 per gallon of gasoline.
And these estimates do not include the hundreds of billions more in subsidies in the Inflation Reduction Act (2022) for various aspects of the EV supply chain, particularly for battery manufacturing.”
“Nearly $22 billion in federal and state subsidies and regulatory credits suppressed the retail price of EVs in 2021 by an average of almost $50,000,” they note.
~Snip~
They conclude: “The stark reality for proponents of EVs and for the dreamers in the federal government, who are using fuel economy regulations to force manufacturers to produce ever more EVs, is that the true cost of an EV is in no way close to a comparable ICEV [internal combustion engine vehicle]. Our conservative estimate is that the average EV accrues $48,698 in subsidies and $4,569 in extra charging and electricity costs over a 10-year period, for a total cost of $53,267, or $16.12 per equivalent gallon of gasoline. Without increased and sustained government favors, EVs will remain more expensive than ICEVs for many years to come.”
Commentary:
It was hilarious watching Sen Kennedy question environmentalists thus week
Trying to get them to put a number on the cost to implement the Green New Deal by 2050
One had the audacity to claim $200b, at tops.
The proven fact is that lithium batteries are not end all be all. Their cost in human life, the environment and danger is obvious.
Then there's the fact the generation of electricity by fossil fuels is still necessary. Seems France and Germany have reactivated their fossil fuel and nuclear plants.
Funny while I'm typing this my laptop battery is being charged by Duke Energy.
One Massive Failure in all this bull crap that no one discusses is that most power power transmission lines across the US are not designed to carry power for everyone living all electric and charging EV’s. Fact is that most homes do not have the capacity, either.