The Epoch Times’ Kevin Stocklin discusses the details on his new report, including how costly the “evolution” of EV’s really is.
There’s been a lot of talk about electric vehicles becoming more affordable than internal combustion engine (ICE) cars and trucks. However, estimated costs, including taxes and subsidies, indicate that there is up to $48,000 in “socialized costs” per EV that are not included in the sticker price but are rather paid by Americans at large.
Even those customers that aren’t interested in buying an EV are helping to pay the purchase price anyway. Given that the average EV buyer earns more than $150,000 per year, this amounts to a wealth transfer from less affluent Americans to the rich.
The Texas Public Policy Foundation filed a report in October, titled Overcharged Expectations: Unmasking the True Costs of Electric Vehicles. This report details all the ways that Americans are subsidizing EV owners.
Brent Bennett, co-author of the report, explained to The Epoch Times, “Within the $48,000 is what we consider to be socialized costs, to the taxpayer, to other people in your utility service area, or onto gasoline vehicles.”
He added, “Because the power draw [of EVs] is so high, that puts extra strain on the infrastructure. EV charging will pull down as much electricity as a few homes, so eventually you have to upgrade your infrastructure to handle that.” These additional capital costs show up in higher electric bills, and are just one example of the socialized costs of EVs.
The author of the investigative piece, The Epoch Times’ own Kevin Stocklin, joins us now to discuss it further, and how this could impact the sales of electric vehicles in the future.
Q&A:
- What are the components of the “up to $48,000” in socialized costs that everyone pays for EVs?
- Who is profiting the most from these subsidies, besides the buyers of EVs?
- Will carmakers benefit from the “historical transition” to EVs?
- Are EVs the best option to reduce CO2 emissions?
- Judging by this report, where do you see the market for electric vehicles going? Are EVs the future of transportation?
- You recently produced a new documentary called The Shadow State, which discusses the impact of the ESG market. Tell us more about it and what it’s done for business over the past few years.
- Where can people view The Shadow State? We understand there’s also a DVD available?
- The Shadow State is available right now on Epoch TV. Those interested in purchasing the DVD can do so here.
- Where can we find your recent article about this subject on The Epoch Times, as well as other works you’ve written?
- You can find my profile page here, with all my recently written articles, including a piece on the insurers’ ESG agenda.
About Kevin Stocklin:
Kevin Stocklin is a writer, film producer, and former investment banker. He wrote and produced We All Fall Down: The American Mortgage Crisis, a 2008 documentary on the collapse of the U.S. mortgage finance system.
CONTACT: Jerry McGlothlin at: geraldmcg@outlook.com or 919-437-0001.
