Unveiling the Hidden Expenses: The Real Price Tag of Electric Vehicles
Shared By Peter Boykin – American Political Commentator / Citizen Journalist / Political Candidate
Unveiling the Hidden Expenses The Real Price Tag of Electric Vehicles
Unveiling the Hidden Expenses: The Real Price Tag of Electric Vehicles
A comprehensive study conducted by the Texas Public Policy Foundation, funded by oil industry giants Exxon and Chevron, challenges the prevailing narrative surrounding the cost of operating electric vehicles (EVs). According to the study, titled ‘Overcharged Expectations: Unmasking the True Costs of Electric Vehicles,’ the actual cost of running an EV is far higher than commonly suggested, primarily due to federal subsidies financed by taxpayers.
Key Points:
Subsidies and Regulatory Credits:
The study argues that when factoring in subsidies, regulatory credits, and subsidized infrastructure, the genuine cost of operating an EV translates to a staggering $17.33 per gallon of gasoline. This sharply contrasts with the industry’s claim that EVs equate to the cost of $1.21 per gallon of gas. To put it in perspective, the average price of gasoline in the U.S. today is $3.49, making EVs appear significantly costlier at 20% of the price.
Ownership Expenses:
The study’s findings underscore that a 2021 EV would accrue an additional cost of $48,698 over a 10-year period without the $22 billion in government subsidies provided to manufacturers and owners. This challenges the notion that EVs are economically competitive without substantial government intervention.
Power Grid Strain:
The study points out that taxpayers and utility ratepayers bear the brunt of the expenses incurred by EV drivers, who strain the power grid, costing approximately $11,833 per EV over a decade. This reveals a hidden cost that is not readily apparent when evaluating the price tag of EVs.
Study Author’s Critique:
Jason Isaac, the author of the study, takes aim at the Biden administration and Democrats for their enthusiastic support of EVs through extensive government subsidies and regulations. He asserts, “The price you see in the lot is not the true cost of an electric vehicle,” highlighting the disparity between the perceived affordability and the actual expenses associated with the widespread adoption of electric vehicles.
[Source: You can read the report here: Texas Policy Report ]
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