In an earth-shattering revelation, the Texas Public Policy Foundation’s study exposes the shocking truth behind owning an electric vehicle (EV). The study uncovers that the real cost of fueling an EV, stripped of all the sugar-coated federal subsidies, equates to a whopping $17.33 per gallon of gasoline.
This staggering figure shatters the illusion of cost-effectiveness touted by green-energy enthusiasts and reveals how your tax dollars are bankrolling the EV industry. The study argues that EVs are recipients of a smorgasbord of direct subsidies, regulatory credits, and subsidized infrastructure, which artificially deflate the price of EVs. A colossal $22 billion in aid slashes the cost of a 2021 EV by almost $50,000, misleading the public into believing these vehicles are economical.
But there’s more to this debacle. The strain on our power grid from charging these EVs costs other taxpayers and utility ratepayers a jaw-dropping $11,833 over 10 years. However, state and federal subsidies cunningly lower the real cost of EV ownership by an average of $8,984 over the same period, keeping consumers blissfully ignorant of the true cost.
Our federal government, it seems, is hell-bent on remaking the entire American auto industry, subsidizing EVs even more than wind and solar electricity generation. Traditional gasoline-powered vehicles, the study points out, are cheaper than EVs without these subsidies. The need for full transparency about subsidies and credits when evaluating the cost-effectiveness of EVs has never been more critical.
The study from the Texas Public Policy Foundation (TPPF) found, for example, that the average 2021 electric vehicle “would cost $48,698 more to own over a 10-year period without $22 billion in government favors given to EV manufacturers and owners.” https://t.co/bu1hwp7Sma
— Bud Brigham (@bmbrigham) October 27, 2023
The study also rings alarm bells about the readiness of our electrical grid to handle an onslaught of EVs, especially considering the ambitious EV mandates set for 2030. Nuclear energy offers a cleaner alternative but continues to face roadblocks from environmentalists post incidents like Three Mile Island.
The study shatters the myth that EVs are on the cusp of costing less than gas-powered cars. It calls for a rollback of subsidies and burdensome regulations to save consumers money and shield the auto industry from financial upheaval.
This bombshell report raises urgent questions about the true cost and viability of EVs without subsidies, the potential impact on our electrical grid, and the future of the auto industry. It’s high time policymakers, consumers, and industry stakeholders wake up to these revelations when charting the course of our transportation future.