The Texas Public Policy Foundation (TPPF) has released a new study, “Overcharged Expectations: Unmasking the True Costs of Electric Vehicles,” that takes aim at revealing “the true cost” of electric vehicles (EVs).
The study highlights several key points, notably that federal and state subsidies and regulatory credits artificially reduced the retail prices of EVs by an average of nearly $50,000, amounting to approximately $22 billion in total. It also makes the contentious claim that EVs receive excessive credits under federal fuel efficiency programs, significantly outweighing their actual fuel economy benefits.
“The Biden administration and leftist states such as California have pushed for widespread electrification in less than 20 years through government subsidies and coercive regulations, but the price you see in the lot is not the true cost of an electric vehicle,” said TPPF’s Jason Isaac in apress release.
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“Electric vehicle owners have been the beneficiaries of regulatory credits, subsidies, and socialized infrastructure costs totaling nearly 50 thousand dollars per EV. These costs are borne by gasoline vehicle owners, taxpayers, and utility ratepayers, who are all paying a hefty price for someone else’s EV.”
TPPF claims to be a non-partisan research institute, but a Wikipedia search would show that the organization’s donors include “energy companies Chevron, ExxonMobil, and other fossil fuel interests.” If the words “leftist states” in the press release soundbite and “EV apologists” in the study conclusion don’t give it away, TPPF has been described as right-wing and “dedicated to halting climate policy.”
The claim that EVs receive excessive credits under federal fuel efficiency programs may be a simplification of the complex regulations governing automotive emissions and fuel efficiency standards. These standards are designed to incentivize automakers to develop cleaner and more fuel-efficient vehicles.
Moreover, the calculation of these subsidies and credits does not take into account the long-term economic and environmental benefits of widespread EV adoption. It’s crucial to consider the potential societal advantages of reduced greenhouse gas emissions, reduced reliance on fossil fuels, and improved air quality. The study of course ignores that climate change, after all, is real and it is happening.
Information for this story was found via Reddit, TPPF, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
3 Responses
Lol. With regards to the CAFE metrics, the study significantly burdens EV owners with the failures of other automotive companies to meet federal regulations. Some serious, but clever, mathematical gymnastics to stick it to EVs. This would be laughable but that every conservative news outlet is picking up on this “study” and running with it. I’d say it’s a successful bit of propaganda from the oil industry.
Climate change has been happening for hundreds of millions of years, long before homo-sapiens walked this planet. The urgency now is that a way has been found to exploit the forces of nature and make trillions of dollars off it.
Yup, true, but I’d like to know your source for that little nugget of wisdom? Funny, it seems to be provided by the same sources that explains how the planet is warming faster than any other interglacial period on record. So the fact that it’s been changing for BILLIONS of years has nothing to do w what’s causing it right now. Go back to school.