Issues & Insights posted an article today about one of the proposals of the Biden campaign. All of us understand that politicians often do not keep their campaign promises, but in this case that might actually be a good thing.
The article reports:
Joe Biden’s $2 trillion climate change plan, released this week, was described by one liberal outlet as “the Green New Deal, minus the crazy.” We beg to differ. Just look at Biden’s plan to eliminate the internal combustion engine.
Biden says that on his first day in office, he will develop “rigorous new fuel economy standards aimed at ensuring 100% of new sales for light- and medium-duty vehicles will be zero emissions.”
…Aside from fuel economy mandates, Biden also wants to extend and expand the EV tax credit, pump federal money into charging stations, and create a new “cash for clunkers” program for those who trade in a gasoline-powered car for a plug-in.
The cost of all this? Who knows. Aside from the $2 trillion price tag that Biden put on his entire Green New Deal plan, he hasn’t broken down his EV mandate scheme. But Sen. Chuck Schumer has already proposed a cash-for-clunkers plan, which would cost $454 billion over a decade.
The article continues:
And for all this, the electric car mandate will have a negligible impact on CO2 emissions and zero impact on the climate.
For one thing, the CO2 advantage of electric cars is vastly oversold. These are not “zero emissions” vehicles. They simply change the source of the emissions from the car to power plants — most of them powered by coal and natural gas.
A study by the University of Michigan’s Transportation Research Institute found that when you factor in CO2 emissions from electricity production, the average plug-in produces as much CO2 over its lifetime as a gas-powered car that gets 55 miles per gallon.
The CO2 advantage of electric cars diminishes even more when you consider the entire lifecycle of the vehicle, including the environmental impact of mining required to manufacture the batteries. A study by the Union of Concerned Scientists found that CO2 emissions from manufacturing electric cars was 68% higher than gas-powered cars.
We already did cash-for-clunkers in 2009. The cars turned in had to be disabled or scrapped. The ultimate result of the program was that it artificially inflated the cost of used cars, hurting the people who couldn’t afford to buy new cars.
Wikipedia (not always a reliable source, but in this case cited sources) reported:
The Economists’ Voice reported in 2009 that for each vehicle trade, the program had a net cost of approximately $2,000, with total costs outweighing all benefits by $1.4 billion. Edmunds reported that Cash for Clunkers cost US taxpayers $24,000 per vehicle sold, that nearly 690,000 vehicles were sold, and that only 125,000 of vehicle sales were incremental. Edmunds CEO concluded that without Cash for Clunkers, auto sales would have been even better.
I think we need to learn from our mistakes.