Turns out 2023 wasn't so great for our all-electric future.
Reuters (12/11/23) reports: "This was the year the auto industry's race toward an all-electric future took a detour... As the year closes, legacy automakers as well as Tesla, Rivian and other EV startups are throttling back investments and reworking product strategies. Legacy automakers are appealing to policymakers for more help to offset the high costs of the EV transition, on top of billions of dollars already pumped into EV subsidies. Consumer demand for EVs is growing worldwide. But EV adoption is not happening as fast or as profitably as industry executives anticipated, especially in the United States. High interest rates have pushed many EVs out of reach for middle-income consumers. Lack of charging infrastructure is a deal-breaker for buyers used to adding hundreds of miles of gasoline driving range in just a few minutes."
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"And, while energy transitionists vilify natural gas and vigorously oppose expansion of U.S. exports of LNG (liquified natural gas), the U.S. already saw a 1 gigaton per year reduction in emissions over the past decade, without massive subsidies or imports. That happened because of the domestic shale revolution that collapsed the cost of natural gas making it cheaper than coal."
– Mark Mills, Manhattan Institute
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