Cheap Oil And Gas Undermines Green Efforts
US gas prices, based on a gallon of regular nationwide, have dropped below $3.00 for the first time in four years. That has dropped the cost of fueling most cars by hundreds, if not thousands of dollars a month. It is another reason Americans have not rushed to buy EVs.
There was a theory that as the price of EVs fell, the cost of operation well below that of gas powered cars would be large enough to speed the transition and that car companies would start to produce dozens of EV models. Every major car company in the US and Europe has retreated from those plans.
EV Cost Edge Goes Away
EVs have not only lost their edge in cost of operation. They also suffer from worry about their ranges, time to charge batteries, and high prices of new cars.
From the standpoint of reducing greenhouse gas emissions, moving cars away from gas is essential. About 10% of all global carbon dioxide (CO2) comes from cars, light trucks, SUVs, and vans.
Commercial Airlines
Commercial airlines fall into a similar category. They account for about 2.5% of CO2 emissions.
Oil prices are likely to stay low for several years at least. The US has become the world’s largest oil producer and exporter, mostly due to shale. Between America and OPEC, the supply side will not be an issue. China, the world’s largest crude importer, has a slowing economy.
Cheap gas will make a transition to EVs less attractive
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