More auto dealers tell Joe to go slow on his EV roll
View this email in your browser ([link removed])
DAILY ENERGY NEWS | 01/24/2024
Subscribe Now ([link removed])
** President Biden should listen to the auto dealers. Americans aren't buying his EV dreams.
------------------------------------------------------------
Center Square ([link removed]) (1/22/24) reports: "Nearly 4,500 dealerships representing all major auto manufacturing brands from every state recently signed a letter to President Joe Biden asking him to “tap the brakes” on his proposed electric vehicle mandate based on a lack of consumer demand. Since the letter was sent in November 2023, dealerships continue to add their names to the list – including 85 from Pennsylvania. The Biden administration set a target for battery electric vehicles, also known as BEVs or EVs, to account for half of all new vehicle sales by 2030 – some states have taken steps to ban internal combustion engine vehicles altogether by 2035. The letter says while admirable, the goal becoming a reality requires consumer acceptance. In addition to what customers are telling them, dealers say the best indicator of demand are the EVs 'stacking up on our lots.' Enthusiasm for EVs has stalled,
the dealers say, 'even with deep price cuts, manufacturer incentives, and generous government incentives.' The letter goes on to say they are thrilled to sell them. However, the majority of their customers are not ready to make the change, citing concerns over affordability, charging access and range...They add that reliable charging networks, electric grid stability, sourcing of materials and other issues need time to resolve – and finally, many people simply want to choose which vehicle is right for them."
[link removed]
** "As 2024 progresses, it’s not just Democrats and Republicans who are on the ballot. Your energy and appliance prices are also up for a vote."
------------------------------------------------------------
–Diana Furchtgott-Roth, Heritage Foundation ([link removed])
============================================================
Propaganda: The P in EPA.
** Detroit News ([link removed])
(1/23/24) column: "If there is a saving grace in Michigan spending $125 million in 2024 on electric school buses, it’s that we can't afford many of them. Almost every big purchase of electric school buses you hear about in Michigan traces back to one source: the Environmental Protection Agency. The EPA’s Clean School Bus Program is spending $5 billion over five years, 2022 to 2026, underwriting electric buses for schools that couldn’t afford them otherwise. To let the EPA tell it, the electric school bus is magic. It makes the air cleaner. It saves money in fuel costs. It can power school buildings in the event of power outages. The EPA actually says this. But magic comes at a high cost. So far, the EPA says it has spent $1.84 billion from the fund, on 5,103 electric buses. That averages out to more than $360,000 per bus. Diesel buses cost between $65,000 and $100,000 each...Washington, D.C. is the rare place where lawmakers don’t have to balance the budget or even pass a budget. When
spending is higher than revenues, they turn on the printer. When the bill comes due, they borrow more money from the future. Untethered from the physical realities of money, the Biden administration is printing off $5 billion to build a fantasy world, where school buses prevent childhood asthma and keep neighborhoods powered up — after $400,000 in start-up costs, of course. But make no mistake, your kids and grandkids will pay for every last one."
Wait, I thought renewables were free. Have I been lied to all this time?
** ([link removed])
You can't help but wonder how often Xi and his crew have a laugh at our expense...
** Electrek ([link removed])
(1/22/24) reports: "Europe and the US say that Chinese EV development is running wild and unchecked and on the verge of overwhelming the global market with, well, EVs the rest of the world can’t compete with. But now China has said it will 'rein in' some of its huge EV expansion in response to criticism of “unfair” industrial and trade policies. The Financial Times reports that the Beijing government will control 'blind' construction of new EV projects happening within the country by taking 'forceful measures.' What that means is anyone’s guess. 'There are also some disorderly competition behaviors,' Xin Guobin, vice-minister of industry and information technology, told the Financial Times. China’s EV industry is a true powerhouse, and one of the few economic bright spots for the country, reports the FT. But it has come under harsh scrutiny from Europe in particular, due to subsidy policies that put Europe at a competitive disadvantage, all while being thrust into a trade war with North
America and Europe...China last year overtook Japan as the world’s biggest car exporter – but most of those were ICE vehicles sold to Russia. Still, it’s no surprise that China-made EVs and batteries are becoming a big business outside of China, with BYD alone selling 1.6 million fully battery-electric vehicles last year, coming close to Tesla’s 1.8 million overall BEV sales. Adding up sales for all so-called new energy vehicles, including battery-only vehicles and plug-in hybrids, BYD sold 3 million vehicles in 2023."
Energy Markets
WTI Crude Oil: ↑ $74.71
Natural Gas: ↑ $2.61
Gasoline: ↑ $3.09
Diesel: ↑ $3.92
Heating Oil: ↓ $267.97
Brent Crude Oil: ↑ $79.78
** US Rig Count ([link removed])
: ↑ 651
** Donate ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Connect with us on Facebook ([link removed])
** Connect with us on Facebook ([link removed])
** Follow us on Twitter ([link removed])
** Follow us on Twitter ([link removed])
** Forward to a Friend ([link removed])
** Forward to a Friend ([link removed])
Our mailing address is:
** 1155 15th Street NW ([link removed])
** Suite 525 ([link removed])
** Washington, DC xxxxxx ([link removed])
Want to change how you receive these emails?
** update your preferences ([link removed])
** unsubscribe from this list ([link removed])
