Based on resource limitations alone, EV's for all will be impossible. But what is possible is they will help destroy the internal combustion engine industry. Then, only the wealthy will have EV's to drive and I guess the rest of us will simply be told to stay home and be happy.

November 21, 2022 by John Hinderaker

Governments at both the federal and state levels tell us we are in the midst of a transition from internal combustion vehicles to electric vehicles. For a number of reasons, I don’t believe that is true, regardless of the level of bribery and coercion that governments bring to bear. I think the whole project will crash and burn, after doing enormous damage in the meantime. But the Wall Street Journal sheds light on how corrupt the EV project now is:

The transition to electric vehicles might not kill traditional auto makers after all—as long as they qualify for Washington’s flagship subsidy program.

At an investor day Thursday, General Motors laid bare the economics of its technological shift. The bad news: GM estimated that its operating margins on EVs would still only be in the low to mid-single digits at the end of 2025. That calculation includes sales of regulatory credits for greenhouse-gas emissions, but excludes new tax credits that President Biden signed into law in August as part of the Inflation Reduction Act.

GM also said its capital expenditures would rise to between $11 billion and $13 billion a year through 2025, from $9 billion to $10 billion this year, as it brings forward EV investments. Such numbers play into investors’ fears that Detroit is on a hugely expensive road to a technology that expensive battery metals will make less profitable for years to come.

The good news: GM expects the Inflation Reduction Act to add between $3,500 to $5,500 per vehicle in profit—a transformative 5 to 7 percentage points in margin. Suddenly, EVs could be as profitable as conventional equivalents.

There is no real market for electric vehicles, at least not one of any magnitude. It is all about subsidies and mandates.

Consumers have understandably focused on the new $7,500 tax credit for their EV purchases available from next year, which comes with many more strings attached than the one it replaces. Notably, half of it will depend on manufacturers’ sourcing EV materials from outside of China, which will take time for anyone to meet.

Among their many other vices, EVs hand control over this important business segment to the Communist Chinese Party, something that our government doesn’t mind much–if it did, it wouldn’t subsidize Chinese materials to the tune of $3,750 per vehicle. And more:

But consumer tax credits are only one piece of the pie. A tax credit for business EV purchases of up to $7,500 isn’t subject to the same conditions…

I.e., the full $7,500 tax credit is available for vehicles made with Chinese materials. We are talking about the battery here, not the body or powertrain.

…which may explain why GM said it would focus first on fleet sales when it launches its electric version of the Chevrolet Silverado pickup truck next year. And then there are huge tax credits for battery production: $35 million for every gigawatt-hour of cells, and a further $10 million to package those cells into modules.

This whole sordid business is hopelessly corrupt, and it is antithetical to America’s economic and strategic interests. Nevertheless, it appears that EV mania will march on until it becomes obvious that the entire project is impossible.

https://www.powerlineblog.com/archives/2022/11/the-ev-boondoggle.php

************************************* 


Fair Use Notice: This website may reproduce or have links to copyrighted material the use of which has not been expressly authorized by the copyright owner. We make such material available, without profit, as part of our efforts to advance understanding of environmental, economic, scientific, and related issues. It is our understanding that this constitutes a "fair use" of any such copyrighted material as provided by law. If you wish to use copyrighted material from this site for purposes that go beyond "fair use," you must obtain permission from the copyright owner.

Views: 34

Comment

You need to be a member of Citizens' Task Force on Wind Power - Maine to add comments!

Join Citizens' Task Force on Wind Power - Maine

 

Maine as Third World Country:

CMP Transmission Rate Skyrockets 19.6% Due to Wind Power

 

Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.

Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********

(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

Not yet a member?

Sign up today and lend your voice and presence to the steadily rising tide that will soon sweep the scourge of useless and wretched turbines from our beloved Maine countryside. For many of us, our little pieces of paradise have been hard won. Did the carpetbaggers think they could simply steal them from us?

We have the facts on our side. We have the truth on our side. All we need now is YOU.

“First they ignore you, then they laugh at you, then they fight you, then you win.”

 -- Mahatma Gandhi

"It's not whether you get knocked down: it's whether you get up."
Vince Lombardi 

Task Force membership is free. Please sign up today!

Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

© 2023   Created by Webmaster.   Powered by

Badges  |  Report an Issue  |  Terms of Service