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In Biden's speech today he mentioned several times the economy that comes from converting cars to electricity. The gas savings.
I wonder where he could come up with gas savings because as more cars use electricity where will the electricity come from?
For example Utility companies use coal and oil to produce electricity for the 500,000 charging stations Biden wants. If gasoline usage reduces,that means oil and coal costs will become more scarce as exploration will be dramatically reduced. Oil companies will no longer be exploring as existing gas & oil supplies initially will be lower in prices as usage declines, BUT then at some point with no new sources being explored what will happen?
Another aspect of Biden's 500,000 charging stations... be prepared for this:
The charging time can range from less than 20 minutes to 20 hours or more, depending on these factors.
Charging the growing number of PEVs requires a robus network of stations for both consumer and fleets.
I wonder where he could come up with gas savings because as more cars use electricity where will the electricity come from?
For example Utility companies use coal and oil to produce electricity for the 500,000 charging stations Biden wants. If gasoline usage reduces,that means oil and coal costs will become more scarce as exploration will be dramatically reduced. Oil companies will no longer be exploring as existing gas & oil supplies initially will be lower in prices as usage declines, BUT then at some point with no new sources being explored what will happen?
Another aspect of Biden's 500,000 charging stations... be prepared for this:
The charging time can range from less than 20 minutes to 20 hours or more, depending on these factors.
Charging the growing number of PEVs requires a robus network of stations for both consumer and fleets.