RE:RE:RE:A Motley Fool article that isn't completely stupidProceeds wrote: Totally agree, also I think the big question is when are the policy makers going to realize that for every EV that hits the road it's a automatic loss to THERE TAX base and they are giving incentives for this so where are the replacement funds coming from ? Obviously they will start taxing the EV s on there power bill , so the question is will there be a meter on all the charging stations? Or will it be the every house just pays more for there power which I suggest will start a great device amongs the general population. Plus there is already power shortages in many places in North America , who's paying for all the upgrades? Looks like the combustion engine with refined exhaust systems may not be so bad after all Trudope.
Yep
In the US for example, the transportation sector accounts for about 60% oil consumption. If the US actually meets Biden's target for EVs this will create a massive requirement for more electrical production infrastructure along with the associated billions in costs to build this infrastructure.
Not sure where all this new production and transmission requirements is going to come from especially with opposition from the NIMBY crowd and the rumblings of potential environmental damage from solar (destruction of natural habitats of endangered things) and windmills killing birds.
Combining this with blackouts and power shortages from forest fires and hurricanes makes for real questions about security of supply.
Will be real interesting to see how this plays out. My guess is that people writing the obituary for oil are a little premature.