According to a 2015 estimate by the Obama administration, the US oilindustry benefited from subsidies of about $4.6 billion per year...... in addition to the carbon emissions talked about here.
Sent from my iPhone > On Nov 19, 2018, at 8:43 PM, brucedp5 via EV <[email protected]> wrote: > > > > https://www.bloombergquint.com/onweb/big-oil-vs-electric-cars-carbon-tax-would-level-playing-field#gs.yPT11yc > Big Oil Doesn't Like EV Subsidies, Just Its Own Giant Subsidy > November 19 2018 Liam Denning > > (Bloomberg Opinion) -- You may not have heard, but electric vehicles are > just another one-percenter boondoggle, Jay Gatsby’s cream-colored Rolls > Royce reincarnated and partly paid for by you, the toiling masses, via > various subsidies. > > As an argument, it is tailor-made for an era of anger at “elites.” And it’s > one with which I’ve become familiar reading recent letters from > organizations such as Koch Industries Inc.[ > https://news.kochind.com/media-resources/On-The-Issues/Koch-Urges-Senate-to-Allow-Innovation-and-Consumer > ], affiliates of the American Petroleum Institute and Americans For > Prosperity [ > https://www.icc.illinois.gov/Electricity/workshops/evnoi.aspx > ], urging federal and state bodies to forgo support for electric vehicles or > their chargers. If wealthier types wish to buy them, so be it, but they > should pay for it themselves. As Koch’s letter opposing an extension of the > federal tax credit for EVs puts it: > > " I encourage you to allow innovation and consumer choice to drive this > industry, not tax dollars and government subsidies. " > > Stirring stuff, though it does rather gloss over some niggling details. > > They aren’t wrong about one thing: Subsidies for EVs tend to accrue to the > wealthy. A paper [ > http://ei.haas.berkeley.edu/research/papers/WP262.pdf > ] published in 2015 by Severin Borenstein and Lucas Davis of UC Berkeley > found exactly that. One explanation is that, even when subsidized, today’s > EVs are usually more expensive than regular vehicles, so they are bought by > wealthier people. > > This is clearly unfair. However, as Berkeley’s Borenstein and Davis wrote in > a blog post summarizing that same paper: > > " We find that tax credits are less attractive on distributional grounds > than pricing [greenhouse gases] directly … Whereas tax credits go > disproportionately to high-income households, a carbon tax would be paid > disproportionately by high-income households. " > > This uncovers the main problem with the whole elitist EVs argument: If not > these subsidies, then what? > > Addressing climate change means encouraging a switch away from emitting vast > quantities of greenhouse gases into the atmosphere in order to power our > societies. Leaving aside the unfortunate desire of certain parties to ignore > or obfuscate the science [ > https://www.bloomberg.com/opinion/articles/2018-09-13/big-oil-and-climate-change-losing-the-30-years-war > ] framing that threat, the central question is how to encourage that switch > most efficiently. In general, handing out regressive subsidies based on the > government elevating this or that technology, while perhaps politically more > doable, doesn’t meet that objective. > > A far-more efficient method is to put a price on the stuff you want less of > and then let capitalism do its thing, pushing consumption away from the > undesirables and investment toward innovative alternatives. Indeed, all > these letters demand government officials stand back and let the market do > its thing – except their version of the market leaves out one essential > element. > > Greenhouse gases and the threat they pose are everyone’s problem, but the > individual generating them at any given moment doesn’t pay toward dealing > with that. Dump your garbage on your neighbor’s lawn and you’ll wind up > paying to have it removed and probably a fine, too. Release 20 pounds of > carbon dioxide into the atmosphere by burning a gallon of gasoline, and it’s > a freebie. > > This is an enormous effective subsidy for fossil fuels and makes a mockery > of market piety. Using Yale economist and recent Nobel-prize winner William > Nordhaus’s [ > https://www.bloomberg.com/news/articles/2018-10-08/nordhaus-romer-win-2018-nobel-prize-in-economic-sciences > ] $31-per-tonne estimate of the social cost of carbon, it amounted last year > to $107 billion for energy-related emissions from oil and natural gas in the > U.S. Within that, emissions from transportation – the biggest source in the > U.S. and the only one still growing – enjoyed a free ride worth $59 billion. > > The cost of the federal tax subsidy for EVs is $2 billion at most across the > lifetime of the current program, according to a study cited in the Koch > letter (title: “Costly Subsidies For The Rich [ > https://www.pacificresearch.org/wp-content/uploads/2018/02/CarSubsidies_final_web.pdf > ]”). You may have noticed, too, the U.S. oil and gas industry is not exactly > hard up. A quick scan of the Bloomberg Terminal indicates listed companies > in the sector are forecast to make a collective net profit of $81 billion > this year. What was that about handouts to wealthy elites again? > > The added twist is that the negative effects of climate change fall > disproportionately on the poor. Low-income countries tend to be in regions > likely to suffer the worst consequences and also lack adequate resources to > deal with them (see this [ > https://www.imf.org/en/Publications/WEO/Issues/2017/09/19/world-economic-outlook-october-2017#Chapter%203 > ] from the International Monetary Fund) ... > > But the API’s call for the creation of “a level playing field” between > internal combustion engines and EVs is risible. It never grapples with the > fact that the lack of a penalty for carbon emissions is the single biggest > obstacle to a level playing field, and precisely why officials trying to > deal with climate change resort instead to sub-optimal workarounds like > subsidies. This isn’t a plea for more of those; far from it. Instead, > consider it an addendum to those missives on the sanctity of markets, merely > pointing out the one vital element the authors of the letters somehow forgot > to include. > > > This column does not necessarily reflect the opinion of the editorial board > or Bloomberg LP and its owners. > Liam Denning is a Bloomberg Opinion columnist covering energy, mining and > commodities. He previously was editor of the Wall Street Journal's Heard on > the Street column and wrote for the Financial Times' Lex column. He was also > an investment banker. > [© 2018 Bloomberg L.P. bloombergquint.com] > ... > https://www.business-standard.com/article/current-affairs/big-oil-doesn-t-like-electric-vehicle-subsidies-just-its-own-giant-subsidy-118112000060_1.html > Big oil doesn't like electric vehicle subsidies, just its own giant subsidy > November 20, 2018 Today's EVs are usually more expensive ... so they are > bought by wealthier people You may not have heard, but electric vehicles > are just another one-percenter boondoggle ... partly paid for by ... various > subsidies ... > https://bsmedia.business-standard.com/_media/bs/img/article/2018-05/12/full/1526142957-6946.jpg > > > % I normally do not post anti-EV items. The following were likely paid for > out of the Koch Bros' anti-EV campaign $M$ > (btw, this is only a whiff of the anti-EV sewage I have to daily wade > through to get the few pro-EV items I find) % > > > [dated] > https://reason.com/blog/2018/09/19/eliminate-federal-electric-vehicle-subsi > We Should Eliminate Federal Electric Vehicle Subsidies for Rich People > Sep. 19, 2018 The Feds did, however, limit the these tax outlays by putting > a cap of 200,000 vehicles that can be subsidized by each manufacturer. EVs > manufactured by Tesla and General Motors are on the verge of no ... > > https://www.euractiv.com/section/electricity/interview/eu-official-rich-people-win-most-from-regulated-energy-tariffs/ > EU official: Rich people win most from regulated energy tariffs > Nov 15, 2018 EU official: Rich people win most from regulated energy > tariffs ... respond with their own production, batteries or demand from > electric vehicles in a way that helps ... > > https://www.thetruthaboutcars.com/2018/11/the-cost-of-ev-adoption-just-6-trillion/ > The Cost of EV Adoption? Just $6 Trillion > Nov 13, 2018 Alternative fuel advocates often suggest that if society could > simply get the lead out on solving the infrastructure problem, electric > vehicle adoption would reach ... > https://www.thetruthaboutcars.com/wp-content/uploads/2016/12/nissan-leaf-charging-electric-car.jpg > > https://www.ecowatch.com/koch-electric-vehicles-tax-credit-2619368336.html > Koch Industries Lobbies Against Electric Vehicle Tax Credit > Nov 12, 2018 The PRI study, "Costly Subsidies for the Rich: Quantifying the > Subsidies Offered to Battery Electric Powered Cars," emphasizes that "the > majority of the dollar ... > https://resize.rbl.ms/simage/https%3A%2F%2Fassets.rbl.ms%2F18823239%2Forigin.jpg/1200%2C630/inbNscsT0CBA4%2Flz/img.jpg > > http://www.biofuelsdigest.com/bdigest/2015/10/11/no-rich-white-guy-left-behind-the-selling-of-electric-cars-as-zero-emission-vehicles/ > No Rich White Guy Left Behind: The Selling of Electric Cars as Zero Emission > Vehicles > October 11, 2015 That’s certainly one way to look at it. Some good news? > California has a proposal to end tax breaks for rich white guys when they > buy electric vehicles. Why not break out the bubbly just yet? It impac... > > https://www.worldcoal.com/power/19112018/new-research-suggests-energy-revolution-will-create-a-divide-in-britains-economy/ > New research suggests ‘energy revolution’ will create a divide in Britain’s > economy > 19 November 2018 ... local policies and average household income have > resulted in more affluent regions ... It is also cheaper, on average, to own > an electric car in London than in any ... the exemption of electric vehicles > (EV) from London's Congestion Charge ... > > http://archive.kuow.org/post/challenging-idea-electric-vehicles-are-rich > Challenging The Idea That Electric Vehicles Are For The Rich > Jun 20, 2017 A Portland family tests out a new pilot electric car sharing > program in the Cully neighborhood. Courtesy of Forth Poor people spend more > of their income on gas and transportation and their neighborhoo... > http://mediad.publicbroadcasting.net/p/shared/npr/styles/placed_wide/nprshared/201706/533734464.jpg > > https://finance.yahoo.com/news/government-electric-car-subsidies-costly-133500607.html > Government Electric Car Subsidies Are 'Costly Subsidies for the Rich', Finds > New Study > February 13, 2018 99 Percent of Total Tax Credits Go to Households with > $50K+ Incomes SAN FRANCISCO, Feb. 13, 2018 /PRNewswire/ -- Generous, > taxpayer-funded subsidies for electric car purchases have become just > another ... > > https://global.handelsblatt.com/companies/electric-cars-blackouts-german-cities-878678 > Electric cars pose blackout threat to German cities > January 24, 2018 Electric cars will pose a risk of blackouts, first in > affluent exurbs of cities like Munich, Frankfurt or Berlin and then later > nationwide. It’s cold comfort that other countries face the same problem ... > https://global.handelsblatt.com/wp-content/uploads/2018/01/22-p16-More-e-cars-more-outages-01.png > > https://www.electronicsweekly.com/blogs/mannerisms/shenanigans/silly-subsidy-2018-11/ > Silly Subsidy > 13th November 2018 It turns out that companies have been claiming > government subsidies of up to £4,500 apiece on hybrid cars but haven’t used > the electric engine. The subsidy propelled the UK to become Europe’s biggest > ... > > https://driving.ca/auto-news/news/the-6-trillion-barrier-holding-back-electric-cars > The $6-trillion barrier holding back electric cars > November 5, 2018 Electric vehicle sales rose 55 percent in the country ... > the transition costs will have to be reduced through government sub... > > https://www.davisenterprise.com/local-news/dunning/bob-dunning-if-you-drive-a-hybrid-theyll-tax-the-street/ > Bob Dunning: If you drive a hybrid, they'll tax the street … > Oct 30, 2018 Critics claim electric cars are important assets in the fight > against pollution and global ... The rule applies to rich and poor alike, > whether they're driving a Cadillac ... > > https://insideevs.com/electric-cars-becoming-must-have-rich-famous/ > Electric Cars Are Becoming A Must-Have For The Rich & Famous > JUN 29 2018 Once seen as the domain of tech geeks and tree huggers, > electric cars have transformed into the new, must-have accessory for the > rich and famous. Hannah Elliott reports (via Bloomberg), “When marketin... > (Bentley EXP 6e) > https://cdn.shopify.com/s/files/1/0196/5170/files/DLF_7634_grande.jpg?v=1523719709 > > https://www.bloombergquint.com/technology/oil-demand-for-cars-and-transportation-is-already-falling#gs.cNL3Jjg > Oil Demand for Cars Is Already Falling > Nov 16, 2018 Add in the much smaller displacement from electric cars, and > there's 279,000 ... only endorsed environmental, social and governance goals > once they got rich ... > https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iDkRf.c_tyow/v1/760x-1.png > > https://community.oilprice.com/topic/4012-could-evs-become-cheaper-than-ice-cars-by-2023/ > Could EVs Become Cheaper than ICE Cars by 2023? > Nov 6, 2018 As a result sales are either to the concerned rich (most of > Tesla's customers to ..... European electric vehicles are by far at a much > more advanced level than ... > https://s3.amazonaws.com/community.oilprice.com/monthly_2018_11/image.png.47f716a5e6b3c3a7280c12ef8a71e9a6.png > > (+more) > > > > > For EVLN EV-newswire posts use: > http://evdl.org/archive/ > > > {brucedp.neocities.org} > > -- > Sent from: http://electric-vehicle-discussion-list.413529.n4.nabble.com/ > _______________________________________________ > UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub > http://lists.evdl.org/listinfo.cgi/ev-evdl.org > Please discuss EV drag racing at NEDRA (http://groups.yahoo.com/group/NEDRA) > -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://lists.evdl.org/private.cgi/ev-evdl.org/attachments/20181120/d0290023/attachment.html> _______________________________________________ UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub http://lists.evdl.org/listinfo.cgi/ev-evdl.org Please discuss EV drag racing at NEDRA (http://groups.yahoo.com/group/NEDRA)
