Avenger
Well-Known Angler
Study casts doubt on electric vehicles' climate, cost benefits: 'Won't achieve the goals intended'
The massive push to increase electric vehicle adoption and restrict gas-powered car sales could inadvertently lead to higher emissions and consumer costs.www.foxnews.com
A new report published by the Manhattan Institute threw cold water on the purported climate and cost benefits of electric vehicles (EVs) widely touted by lawmakers and automakers.
Overall, the rapid electrification of the U.S. transportation sector would increase consumer costs, make the electric grid more vulnerable to blackouts, threaten national security and may not even lead to fewer greenhouse gas emissions, according to the paper titled "Electric Vehicles for Everyone? The Impossible Dream" and authored by Manhattan Institute senior fellow Mark Mills.
"I think it's morally consequential. It's geopolitically consequential and socially, economically consequential," Mills told Fox News Digital in an interview. "The subsidies and the mandates run the risk of causing maybe the biggest misallocation of capital in modern times in the industrial markets. Hundreds of billions of dollars are going to be spent chasing these mandates, requirements."
"And it won't, as the report shows, it won't achieve the goals intended and the attempt to do so will have enormous economic and social costs because the underlying premises are either incorrect, too poorly understood or too difficult to quantify in order to take the actions that are being taken," he continued.
Mills added that there are "realistic scenarios" where driving an electric vehicle will cause greater global emissions than driving an internal combustion engine.
This is what happens when somebody with a degree in political science makes engineering decisions.
