Yup, those potlickers will always find a way to get into your pockets and your pants (and not in a good way..).
The fact has recently come to light here in Canada that the government collects BILLIONS of CDN dollars in fuel taxes (we pay about $1.25/litre which is about $3.50 US / US gallon). Apparently, about 60-70% of the pump price is tax (as is the case in most countries). The fun fact is that if everyone drove an EV, none of those fuel taxes would be paid - and so the story is that the manadarins are now working furiously to figure out how to gouge us on electricity charges to make up the difference.
...no wonder they use MY taxes to bribe other people buy an EV. I wish the govt would use YOUR tax money to help me with my motorcycle habit.
Oh well, I guess they’ll get me on the fuel taxes and eventually, they get the EV folks on the electricity prices.
Cool eh?
All seriousness aside, I think the Bloomberg has it right. The present generation of EV technology is simply not competitive with IC engines - and it is going to take some years before that gap closes (I’d say about a decade as stated by Bloomberg). In the meantime, investment in IC technology is still substantial with nearly every OEM continuing to develop advanced technology engines.
You have to read announcements like the one from Volvo carefully. It does NOT say they are abandoning IC engines but rather that the mix of IC and hybrid/EV technology is evolving. Car companies know a lot about P.R.
Merry Christmas everyone!
Pete
The fact has recently come to light here in Canada that the government collects BILLIONS of CDN dollars in fuel taxes (we pay about $1.25/litre which is about $3.50 US / US gallon). Apparently, about 60-70% of the pump price is tax (as is the case in most countries). The fun fact is that if everyone drove an EV, none of those fuel taxes would be paid - and so the story is that the manadarins are now working furiously to figure out how to gouge us on electricity charges to make up the difference.
...no wonder they use MY taxes to bribe other people buy an EV. I wish the govt would use YOUR tax money to help me with my motorcycle habit.
Oh well, I guess they’ll get me on the fuel taxes and eventually, they get the EV folks on the electricity prices.
Cool eh?
All seriousness aside, I think the Bloomberg has it right. The present generation of EV technology is simply not competitive with IC engines - and it is going to take some years before that gap closes (I’d say about a decade as stated by Bloomberg). In the meantime, investment in IC technology is still substantial with nearly every OEM continuing to develop advanced technology engines.
You have to read announcements like the one from Volvo carefully. It does NOT say they are abandoning IC engines but rather that the mix of IC and hybrid/EV technology is evolving. Car companies know a lot about P.R.
Merry Christmas everyone!
Pete
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