The nation's largest oil trade group, which includes Exxon Mobil and Chevron, filed a federal lawsuit on Thursday seeking to block the Biden administration's efforts to reduce planet-warming emissions from cars and light trucks and encourage electric vehicle manufacturing. The U.S. Environmental Protection Agency issued new tailpipe emission rules in March that will force automakers to produce and sell more electric vehicles to meet the new standards. The American Petroleum Institute (API) says the EPA has exceeded its congressional authority with a regulation that will eliminate most new gas cars and traditional hybrids from the U.S. market in less than a decade.
It does matter. Last year 15.5million new cars were sold in the US. Besides the US being a rich country, it has a below average share of EVs in sales. So Biden pushing this will make the transition faster, as companies set up new production.
It also matters for another reason. US oil production is likely to decline in the coming years. Currently the US is an oil exporter, but this is going to change unless the US lowers consumption. EVs are a key part of doing that. If done successfully, that means the US has less interest in protection global oil production and flows to keep prices low. So less US interventions and higher oil prices.
Of course it matters, but not much. American car export is not very important. The flow is in the other direction. There are more European cars in USA than American cars in Europe, and then there’s all the Korean, Japanese and Chinese cars all over the world, all import. A little UK in there too.
The American automobile business is a hollow shell of past dreams. Grossly speaking: Nobody but Americans buy American ICE cars and they also don’t themselves.
When the foreign car manufacturers switch to electric engines, so does USA, unless you desperately want to drive a '98 Pontiac Sunfire baby.
People worldwide buy American Tesla, though they’re produced in China and Germany or wherever, but at least it’s still electric, so…
It does matter. Last year 15.5million new cars were sold in the US. Besides the US being a rich country, it has a below average share of EVs in sales. So Biden pushing this will make the transition faster, as companies set up new production.
It also matters for another reason. US oil production is likely to decline in the coming years. Currently the US is an oil exporter, but this is going to change unless the US lowers consumption. EVs are a key part of doing that. If done successfully, that means the US has less interest in protection global oil production and flows to keep prices low. So less US interventions and higher oil prices.
Of course it matters, but not much. American car export is not very important. The flow is in the other direction. There are more European cars in USA than American cars in Europe, and then there’s all the Korean, Japanese and Chinese cars all over the world, all import. A little UK in there too.
The American automobile business is a hollow shell of past dreams. Grossly speaking: Nobody but Americans buy American ICE cars and they also don’t themselves.
When the foreign car manufacturers switch to electric engines, so does USA, unless you desperately want to drive a '98 Pontiac Sunfire baby.
People worldwide buy American Tesla, though they’re produced in China and Germany or wherever, but at least it’s still electric, so…