Gina McCarthy: Electric Vehicles Will Be Cheaper ‘When More Are Sold’ – We Have to Help with Rebates or Tax Incentives
"Gina McCarthy: Electric Vehicles Will Be Cheaper ‘When More Are Sold’ – We Have to Help with Rebates or Tax Incentives"
For the record, my retirement account would benefit, directly and indirectly, from the expansion of electric cars. It would also indirectly benefit from expanding wind power. And I'm invested in oil and gas.
While I view climate change as being pure fraud, I am in favor of some things the movement is causing. We don't have an unlimited supply of oil and gas, and have to develop substitutes. Power from wind, by its nature, will never, on a global basis, provide more than a few percent of energy needs. Solar technology is still far too primitive. The technology is gradually getting better. It's a shame that more isn't being done with geothermal. If you like playing with virus genetics, you'll love nuclear. Adding alcohol to gasoline is at the expense of food crops.
Energy conservation? Love it! But the biggest payback is with new construction. Let's focus our resources there.
Energy efficiency? Electric vehicles are much more energy efficient than gas ones. Everyone is deciding, around now, to push them forward. The vehicle charging infrastructure will develop, because everyone wants it to develop.
But there's one big problem that isn't getting the attention it deserves. It's obvious, even using back of the envelope math. Take the energy used by vehicles, and put that onto the power grid. We will have to build a multitude of new power plants. Realistically, we're looking at natural gas (the Democrats hate fracking) and low sulfur coal (they hate coal even more). It takes forever to build a nuclear power plant. Solar and wind can only provide a little of the increased demand.
And we'll also have to drastically expand our electric power grid. Existing power lines can't handle the increase.