The Biden administration continues its mad dash to force all Americans into electric vehicles.
But more and more evidence is coming out every day that is causing the caution flag to wave.
That’s why Joe Biden lost his mind after a new report revealed this shocking truth about electric vehicles.
A newly-released study found that fueling electric vehicles costs approximately $17 per gallon.
Hidden EV fueling costs outweigh upfront savings
The information comes from a groundbreaking paper titled “Overcharged Expectations: Unmasking the True Costs of Electric Vehicles,” by the Texas Public Policy Foundation.
In their paper, the group reports they’ve shown conclusively that the hidden costs of fueling EVs drastically outweigh its supposed low upfront fueling costs.
The hidden costs come from an increased burden on the energy grid due to EV battery charging stations and an enormous amount of federal subsidies.
“EV advocates claim that the cost of electricity for EV owners is equal to $1.21 per gallon of gasoline (Edison Electric Institute, 2021), but the cost of charging equipment and charging losses, averaged out over 10 years and 120,000 miles, is $1.38 per gallon equivalent on top of that. 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,” study authors Brent Bennett and Jason Isaac reported.
“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,” they add.
An unprecedented attempt to remake an entire industry
“It is not an overstatement to say that the federal government is subsidizing EVs to a greater degree than even wind and solar electricity generation and embarking on an unprecedented endeavor to remake the entire American auto industry.”
Not surprisingly, government regulatory mandates on the EV industry and automakers were found to make up the biggest chunk of the hidden costs.
The study also makes the clear case that hybrids are actually far more efficient than full EVs but are being ignored by the government.
“Federal policy is also pushing EVs over hybrid vehicles, even though hybrids offer a far more efficient way to improve fuel economy and reduce emissions,” the report reads.
“They use a much smaller battery, offer excellent driving range and performance, and don’t require any upgrades to our electric infrastructure. Toyota estimated that 90 hybrid batteries can be made from the same amount of raw materials as one EV battery and that those hybrids will reduce emissions 37 times more over their lifetime than one EV (McParland, 2023). However, hybrids receive far fewer subsidies and regulatory favors than EVs, as the prevailing political consensus is ‘all EV or nothing.'”
This latest report is just one more indication that the Biden administration’s goal of forcing everyone into EVs is a fool’s errand.
Now the question is, will Republicans and any sane public officials use all of the new evidence to stop the race to EV monopoly?
24/7 Politics will keep you up-to-date on any developments to this ongoing story.