The True Cost of Biden’s Bet on BEVs
9 hours ago
By Duggan Flanakin
August 09, 2024
Two months into his Presidency, Joe Biden announced a $2 trillion infrastructure plan that included $174 billion in grants, subsidies, and other payouts to encourage Americans to switch to battery-electric vehicles (BEVs). Since that initial “investment,” billions and billions more have been poured into what is increasingly a failing effort to convince or cajole auto buyers to switch.
These huge expenditures, together with COVID and war monies, have ballooned the national debt to the point that 76% of income taxes are needed just to pay interest on that debt. Many fear that profligate spending has the nation’s economy on the verge of collapse.
The fault lies with the very concept that Government Knows Best. Nothing is proving that tautology wrong more than the plethora of alternatives to BEVs – including a wide variety of hydrogen-powered engines and a new self-rotating engine– that are emerging on the world scene. None of these have been “blessed” with massive subsidies, and none would require a heavily subsidized nationwide charging station network.
https://wattsupwiththat.com/2024/08/12/the-true-cost-of-bidens-bet-on-bevs/
