President <a href="https://www.dailywire.com/topic/joe-biden" target="_blank" rel="noopener">Joe Biden</a> has finalized the most extreme push in history to destroy the gas-powered car industry and force consumers to drive what will be, in effect, government mandated electric vehicles.
The New York Times <a href="https://www.dailywire.com/news/biden-admin-backing-away-from-aggressive-push-for-electric-vehicles-as-consumer-demand-remains-low" target="_blank" rel="noopener">claimed</a> last month that the administration was going to back off its push to force consumers to only purchase EVs as demand for EVs has nosedived in recent years.
However, the administration ultimately caved to far-Left environmentalist groups and activists who demanded the most aggressive effort ever to eliminate combustion engine vehicles.
The Washington Post, which called the effort &#8220;controversial,&#8221; <a href="https://www.washingtonpost.com/climate-environment/2024/03/20/biden-car-emissions-rules/" target="_blank" rel="noopener">noted</a> that the rule will force automakers &#8220;to ramp up sales of electric vehicles while slashing carbon emissions from gasoline-powered models.&#8221;
The Environmental Protection Agency (EPA) claimed that its national pollution standard, which could end up getting killed in the courts, would prevent more than 7 billion tons of carbon emissions, which it claimed would provide $100 billion in annual benefits to the U.S.
The announcement was met with swift backlash online across the political Right, who warned that Biden&#8217;s agenda would damage the American car industry.
&#8220;Biden&#8217;s extreme climate agenda will crush America’s auto industry and its hard workers while making us MORE dependent on China,&#8221; said Republican Senate candidate Dave McCormick. &#8220;And the irony of it all? Biden will increase global emissions by restricting LNG exports and sourcing lithium needed for batteries from China&#8217;s mines!&#8221;
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Sen. Ted Cruz (R-TX) responded: &#8220;Biden’s latest ban on gas-powered vehicles and replacement with electric vehicles is another direct assault on consumer choice and the American way of life.  It ignores the needs of American families in order to appease the radical environmental lobby at the expense of millions of jobs supported by the automotive industry. It&#8217;s time to put an end to this regulatory overreach.&#8221;
Sen. Tommy Tuberville (R-AL) called the agenda &#8220;restrictive and unnecessary,&#8221; and said that Americans should be able to &#8220;choose the best car for their needs.&#8221;

President Biden And First Lady Host Women’s History Month Reception

Biden Finalizes Plan To Kill Off Gas Cars In U.S.

Electric cars

Executive

Gasoline

Joe Biden

Oil and Gas

Politics

Tech giant <a href="https://www.dailywire.com/topic/apple" target="_blank" rel="noopener">Apple</a> has reportedly ended its decade-long pursuit to enter the electric vehicle market after spending billions of dollars on the effort known as Project Titan.
The Wall Street Journal <a href="https://www.wsj.com/business/autos/apple-car-project-canceled-ced2b626" target="_blank" rel="noopener">reported</a> that part of the reason Apple pulled the plug was that the company was lighting cash on fire trying to catch up to Elon Musk&#8217;s Tesla Motors.
“It makes no sense whatsoever for Apple to sell a car,” technology analyst Richard Windsor said last year. “Apple makes 40-50pc gross margins on the products it sells, and it will not make that on seats and steering wheels.”
Apple wanted to develop new battery technology that would dramatically cut the cost of electric vehicles and wanted to develop software that would make their cars fully self driving.
Some of the 2,000 employees Apple had working on the project will be transferred to other areas in the company while the rest will be laid off, the report said.
“Apple canceling this project is a sigh of relief for us,” said Dan Morgan, a senior portfolio manager at Apple shareholder Synovus Trust. “When you looked at Apple’s future initiatives, the car project was always the most far-fetched for Apple. This just isn’t in their wheelhouse.”
The news comes after Apple said last month that it was pushing back its timetable for debuting its electric car from 2026 to 2028, which comes as the electric vehicle market has fallen off significantly in recent years due to a wide range of consumer concerns.
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Mercedes-Benz announced last week that it was scrapping its plans to only sell <a href="https://www.dailywire.com/topic/electric-cars" target="_blank" rel="noopener">electric vehicles</a> after 2030 due to low consumer demand. The Verge <a href="https://www.theverge.com/2024/2/22/24080220/mercedes-benz-ev-only-sales-2030-back-off" target="_blank" rel="noopener">said</a> that the report showed a stunning turnaround for the German automaker from its pledge three years ago to completely phase out selling gas-powered vehicles by 2030 and to only sell EVs.
“Customers and market conditions will set the pace of the transformation,” Mercedes <a href="https://group.mercedes-benz.com/investors/share/outlook/" target="_blank" rel="noopener">said</a> in its fourth quarter earnings statement. “The company plans to be in a position to cater to different customer needs, whether it’s an all-electric drivetrain or an electrified combustion engine, until well into the 2030s.”
The New York Times <a href="https://www.nytimes.com/2024/02/17/climate/biden-epa-auto-emissions.html?smtyp=cur&amp;smid=tw-nytimes" target="_blank" rel="noopener">reported</a> earlier this month that the Biden administration was preparing to ease its push to force EVs onto American consumers as <a href="https://www.dailywire.com/news/hertz-dumping-tens-of-thousands-of-electric-vehicles-replacing-them-with-gas-vehicles" target="_blank" rel="noopener">consumer demand for the vehicles remains low</a>, dealerships have <a href="https://www.dailywire.com/news/3700-u-s-auto-dealers-push-biden-to-scrap-unrealistic-ev-mandate-low-demand-even-with-incentives" target="_blank" rel="noopener">expressed serious concerns</a>, and automakers have had to <a href="https://www.dailywire.com/news/ford-cuts-production-of-electric-truck-they-touted-as-the-future-hiring-hundreds-to-build-more-gas-vehicles" target="_blank" rel="noopener">cut production and revamp production of gas vehicles</a>.
The report said the move was a “concession to automakers and labor unions” from the administration, as it was forcing “limits on tailpipe emissions” to force Americans to switch from gas-powered cars to more expensive electric vehicles — which often have performance issues in adverse weather conditions. The serious lack of charging stations, and the time it takes to recharge electric vehicles, are among other top complaints from consumers.

Apple China Promotion

Apple Ends Multi-Billion Dollar Effort To Build Electric Cars

Apple

Technology

U.S.

Mercedes-Benz is scrapping its plans to only sell <a href="https://www.dailywire.com/topic/electric-cars" target="_blank" rel="noopener">electric vehicles</a> after 2030 as consumer demand for EVs remains lower than what automakers projected.
The Verge <a href="https://www.theverge.com/2024/2/22/24080220/mercedes-benz-ev-only-sales-2030-back-off" target="_blank" rel="noopener">said</a> that the report showed a stunning turnaround for the German automaker from its pledge three years ago to completely phase out selling gas-powered vehicles by 2030 and to only sell EVs.
“Customers and market conditions will set the pace of the transformation,” Mercedes <a href="https://group.mercedes-benz.com/investors/share/outlook/" target="_blank" rel="noopener">said</a> in its fourth quarter earnings statement. “The company plans to be in a position to cater to different customer needs, whether it’s an all-electric drivetrain or an electrified combustion engine, until well into the 2030s.”
The report said that the company only expects EV sales to reach &#8220;up to 50%&#8221; of their total sales by that point, indicating that it could be even less than half.
Tesla CEO Elon Musk, whose company is the world&#8217;s second largest EV manufacturer, said that Tesla expects to see significantly slower sales numbers this upcoming year.
The news comes after The New York Times <a href="https://www.nytimes.com/2024/02/17/climate/biden-epa-auto-emissions.html?smtyp=cur&amp;smid=tw-nytimes" target="_blank" rel="noopener">reported</a> earlier this month that the Biden administration was preparing to ease its push to force EVs onto American consumers as <a href="https://www.dailywire.com/news/hertz-dumping-tens-of-thousands-of-electric-vehicles-replacing-them-with-gas-vehicles" target="_blank" rel="noopener">consumer demand for the vehicles remains low</a>, dealerships have <a href="https://www.dailywire.com/news/3700-u-s-auto-dealers-push-biden-to-scrap-unrealistic-ev-mandate-low-demand-even-with-incentives" target="_blank" rel="noopener">expressed serious concerns</a>, and automakers have had to <a href="https://www.dailywire.com/news/ford-cuts-production-of-electric-truck-they-touted-as-the-future-hiring-hundreds-to-build-more-gas-vehicles" target="_blank" rel="noopener">cut production and revamp production of gas vehicles</a>.
The report said the move was a “concession to automakers and labor unions” from the administration as it was forcing “limits on tailpipe emissions” to force Americans to switch from gas-powered cars to more expensive electric vehicles — which often have performance issues in adverse weather conditions. The serious lack of charging stations, and the time it takes to recharge electric vehicles, are among other top complaints from consumers.
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Ford <a href="https://www.dailywire.com/news/ford-cuts-production-of-electric-truck-they-touted-as-the-future-hiring-hundreds-to-build-more-gas-vehicles" target="_blank" rel="noopener">announced</a> last month that it was making significant cuts &#8212; around 1,400 employees &#8212; to the number of workers who produce its once-touted F-150 Lightning truck at the Rouge Electric Vehicle Center due to low customer demand.

London EV SHow

Mercedes Scraps Plan To Only Sell Electric Vehicles

Biden Administration

Business

Economy

<a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford</a> said this week that it will make significant cuts to the number of employees who produce its touted F-150 Lightning truck as demand for electric vehicles continues to plummet.
Bloomberg News <a href="https://www.bloomberg.com/news/articles/2024-01-19/ford-cuts-production-of-f-150-lightning-electric-truck" target="_blank" rel="noopener">reported</a> that 1,400 employees will be cut from production at the Rouge Electric Vehicle Center, which is cutting all the way back to having a single shift.
Ford planned to produce around 3,200 F-150 Lightnings per week in 2024 at the Rouge Electric Vehicle Center in Dearborn, Michigan, which assembles all of the electric pickup trucks produced by Ford. Ford <a href="https://www.dailywire.com/news/ford-to-slash-planned-production-of-its-all-electric-f-150-in-half-citing-changing-market-demand" target="_blank" rel="noopener">announced</a> last month that it was cutting its production of the trucks in half, all the way down to 1,600 per week.
Ford has slashed $12 billion in EV investments as it struggles to sell its all-electric vehicles to consumers who have numerous concerns about transitioning from gas to electric, especially as retail prices for most EVs remain high.
Bloomberg News noted that the demand for gas vehicles remained so strong that the automaker was hiring approximately 900 new employees and transferring 700 employees who are being pulled off the F-150 Lightning to its Michigan Assembly plant to create a third shift of workers.
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The news comes after Hertz, one of the largest rental car companies in the U.S., <a href="https://www.dailywire.com/news/hertz-dumping-tens-of-thousands-of-electric-vehicles-replacing-them-with-gas-vehicles" target="_blank" rel="noopener">announced</a> last week that it was dumping tens of thousands of electric vehicles from its fleet, citing low demand and high repair costs.
“The dramatic about-face, after Hertz announced plans in 2021 to buy 100,000 Tesla Inc. vehicles, underscores the waning demand for all-electric cars in the US,” Bloomberg News reported. “EV sales growth slowed sharply over the course of 2023, rising just 1.3% in the final quarter as consumers were put off by high costs and interest rates.”
U.S. consumers have had serious concerns about the electric vehicle market ranging from the price of the vehicles and the serious lack of charging stations throughout the U.S. to electric vehicles experiencing dramatic losses in their driving range during weather conditions that feature extreme cold or heat.
“The elevated costs associated with EVs persisted,” Hertz Chief Executive Officer Stephen Scherr said. “Efforts to wrestle it down proved to be more challenging.”
The company hopes that its decision to sell off 20,000+ electric vehicles better balances “supply against expected demand of EVs,” it said in a regulatory filing.
Morgan Stanley analysts said told Reuters that Hertz’s move should be a warning to the entire auto industry about the reality of the electric vehicle market, that they are not that popular and expectations for their growth need to be significantly reduced.
The news comes after nearly 4,000 auto dealers across the U.S. said in a letter to President Joe Biden late last year that his push to make two out of every three new cars sold by 2032 electric was highly unrealistic.
While there were good options for people wishing to buy electric vehicles, “the reality, however, is that electric vehicle demand today is not keeping up with the large influx of BEVs [Battery Electric Vehicle] arriving at our dealerships prompted by the current regulations. BEVs are stacking up on our lots.”
The dealerships said they’ve seen a drastic shift in demand for electric vehicles in just the last year and that they are arriving on their lots faster than they can be sold despite “deep price cuts, manufacturer incentives, and generous government incentives,” the letter said.
“Mr. President, no government agency, no think tank, and no polling firm knows more about the automobile customer than us,” it continued. “Some customers are in the market for electric vehicles, and we are thrilled to sell them. But the majority of customers are simply not ready to make the change.”
Zach Jewell contributed to this report.

U.S.-DETROIT-AUTO SHOW-NAIAS

Ford Cuts Production Of Electric Truck They Touted As The Future; Hiring Hundreds To Build More Gas Vehicles

Ford Motor Co.

A comprehensive <a href="https://www.texaspolicy.com/wp-content/uploads/2023/10/2023-10-TrueCostofEVs-BennettIsaac.pdf">new study</a> of electric vehicles found that the total cost of running them, when government subsidies are factored in, is significantly higher than commonly believed.
Brent Bennett and Jason Isaac issued their report for the Texas Public Policy Foundation, pointing out that advocates for electric vehicles claim the vehicles require lower maintenance and lower fueling costs than traditional vehicles, and future reductions in battery prices will make EVs less expensive.
But, they argue, “no one has attempted to calculate the full financial benefit of the wide array of direct subsidies, regulatory credits, and subsidized infrastructure that contribute to the economic viability of EVs.”
They give evidence that “the average model year (MY) 2021 EV would cost $48,698 more to own over a 10-year period without $22 billion in government favors given to EV manufacturers and owners. &#8230; Adding the costs of the subsidies to the true cost of fueling an EV would equate to an EV owner paying $17.33 per gallon of gasoline. And these estimates do not include the hundreds of billions more in subsidies in the Inflation Reduction Act (2022) for various aspects of the EV supply chain, particularly for battery manufacturing.”
“Nearly $22 billion in federal and state subsidies and regulatory credits suppressed the retail price of EVs in 2021 by an average of almost $50,000,” the authors note. “Car lots are swelling with unsold EVs and the Ford Motor Company is losing over $70,000 on each EV it currently sells.&#8221;
“When we pay for a gallon of gasoline, we are paying for the entire infrastructure to refine, transport, and market that gasoline,” they point out. “When an EV owner connects to the electric grid, how much are they paying for the extra generation, transmission, and distribution costs that they are imposing on the grid, and will those embedded costs rise over time?”
They conclude: “The stark reality for proponents of EVs and for the dreamers in the federal government, who are using fuel economy regulations to force manufacturers to produce ever more EVs, is that the true cost of an EV is in no way close to a comparable ICEV [internal combustion engine vehicle]. Our conservative estimate is that the average EV accrues $48,698 in subsidies and $4,569 in extra charging and electricity costs over a 10-year period, for a total cost of $53,267, or $16.12 per equivalent gallon of gasoline. Without increased and sustained government favors, EVs will remain more expensive than ICEVs for many years to come.”
This article has been revised for emphasis and clarity.

Japan Mobility Show

Study: ‘True Costs’ Of Electric Vehicles Far Higher Than Most Believe

Study: 'True Costs' Of Electric Vehicles Far Higher Than Most Believe

electric vehicles

Transportation

House Speaker Kevin McCarthy (R-CA) blasted President Joe Biden’s energy policies as an “attack” on American energy that is empowering our enemies. 
McCarthy said that “God has blessed” the United States with the ability to be energy independent during an <a href="https://catsroundtable.com/speaker-of-the-house-kevin-mccarthy-impeachment-of-president-biden-is-moving-forward/" target="_blank" rel="noopener">appearance</a> on WABC 770 AM’s “Cats Roundtable” with host John Catsimatidis on Sunday. He said the Biden administration&#8217;s push toward relying only on renewable energy is “helping our adversaries.” 
“They hurt America by cutting off what God has blessed this country to do, where we can be energy independent, raising the price of fuel, and what that does as well is raises inflation for everybody,” McCarthy said. 
The speaker explained that crude oil extends far beyond use in just cars, but is also used for making phones, shirt buttons, street pavement, and other items. McCarthy said under President Biden, the United States is “dependent” on foreign countries that are now upping the prices. 
“We want to be energy independent,” McCarthy told Catsimatidis, adding that American energy independence actually makes the environment “better” because American natural gas is “41% cleaner than Russian natural gas.” Energy independence also means more jobs for Americans, the speaker says. 
“The Biden administration has gone in and done an attack on the energy business, only wants renewable energy instead of all of the above, made the price of energy higher which you feel in New York, made inflation higher because the gasoline price is now higher, jet fuel price is higher, inflation gets added on compounded, so your food price is higher,” McCarthy explained. 
“This is mainly by his policy attacking American energy,” he added. “It doesn’t mean we buy less, it means we’re buying it from our enemies.”
On Thursday, crude oil <a href="https://www.axios.com/2023/09/14/oil-prices-chart-forecast-inflation-biden" target="_blank" rel="noopener">exceeded</a> $90 a barrel, the highest since November 2022, according to Axios. Gas prices have skyrocketed under Biden, reaching their <a href="https://finance.yahoo.com/news/gas-prices-hit-2023-highs-but-analysts-think-theyre-peaking-113206056.html" target="_blank" rel="noopener">highest levels</a> in 2023 last week. As of Sunday, the <a href="https://gasprices.aaa.com/" target="_blank" rel="noopener">average</a> cost of a gallon of gas is $3.87, a substantial increase from the $2.39 average <a href="https://www.cnn.com/2022/10/28/politics/fact-check-biden-gas-prices/index.html" target="_blank" rel="noopener">price</a> on the day Biden was inaugurated. 
&#8220;I&#8217;m going to get those gas prices down again, I promise you,&#8221; Biden <a href="https://www.axios.com/2023/09/14/oil-prices-chart-forecast-inflation-biden" target="_blank" rel="noopener">vowed</a> in a Thursday speech. 
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In 2020, under then-President Donald Trump, the United States became a net exporter of petroleum for the first time since 1949, <a href="https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php" target="_blank" rel="noopener">according</a> to the U.S. Energy Information Administration. In one of the final actions in his administration, seven ten-year oil and gas leases were <a href="https://www.foxnews.com/politics/biden-admin-axe-alaska-oil-gas-leases-backed-state-lawmakers-native-americans" target="_blank" rel="noopener">issued</a> in Alaska which spanned 365,775 acres in the Arctic National Wildlife Refuge, according to Fox News. Earlier this month, the Biden administration canceled all of those leases, citing climate change, angering local and state officials. 
&#8220;Having just spent more than a month home in communities across our state, there is palpable anger and frustration among Alaskans about the Biden administration’s unrelenting assault on our economy and our ability to lawfully access our lands,&#8221; Alaska Republican Senator Dan Sullivan told Fox. &#8220;This war on Alaska is devastating for not only Alaska but also the energy security of the nation,&#8221;
In March, the House <a href="https://thehill.com/homenews/house/3902279-what-is-in-house-republicans-energy-policy-package/" target="_blank" rel="noopener">passed</a> an energy package that aims to boost sales and production of oil and gas, speed up permitting reform, and repeal specific “Inflation Reduction Act” policies regarding climate change, according to The Hill. 
“This is all from Democratic policies from this administration not just hurting America and our economy, but helping our adversaries be stronger. That is why we need an American energy policy, which the House has passed, that makes America energy independent, utilizing all forms of energy from renewable, from nuclear, from oil and natural gas as well,” McCarthy <a href="https://thehill.com/homenews/house/4208241-mccarthy-hits-biden-on-energy-policies/" target="_blank" rel="noopener">told</a> Catsimatidis.

Speaker McCarthy

McCarthy Blasts Biden’s ‘Attack’ On American Energy, Says Policies Are ‘Helping Our Adversaries’

Congress

Gas Prices

Kevin McCarthy

A Denver suburb voted to ban new <a href="https://www.dailywire.com/topic/gasoline" target="_blank" rel="noopener">gas stations</a> from being built in the name of combatting climate change.
The city council of Louisville, <a href="https://www.dailywire.com/topic/colorado" target="_blank" rel="noopener">Colorado</a>, about 30 minutes north of Denver and 20 minutes East of Boulder, voted unanimously to approve a city ordinance that would cap the number of gas stations allowed in the city at 6, meaning just one more gas station would be allowed. But that new gas station, and any other that are built under the cap must meet strict requirements.
The <a href="https://www.louisvilleco.gov/home/showdocument?id=38007&amp;t=638146512206382035">ordinance</a> limits the number of gas or automobile service stations within the city limits to 6, including existing gas stations and other approved by the city council but not yet built. The cap may increased to 7, but only if a large retail center – like a Sam’s Club or a Costco – builds a store of 80,000 or more square feet that includes a gas station as an accessory.
The ordinance also imposes strict limits on planning approvals. Approvals expire if a building permit is not issued within 36 months. If a gas station closes for 12 months, then a new plan must be submitted that meets current city standards. The city will only review new plans for gas stations if there are less than 6 stations.
Furthermore, any new gas stations must be built further than 1000 feet away from an existing station, though that rule can be waived if the station belongs to a retail center. A newly-built station, or an expansion to an existing one, must include building electric vehicle charging stations; equal to about 20% the total number of gas pumps at the station, but no less than two.
A report accompanying the ordinance said that one of the reasons behind the move was to encourage more electric cars. “Gasoline station bans may also be seen as promoting the use of Electric Vehicles (EVs), thus, reducing vehicle emissions and encouraging low-carbon and cleaner energy options for transportation,” it read. 
But it also admitted that gas cars are still necessary right now. “The proposal for a cap but not a full ban on new gasoline and automobile service stations is in recognition that there will continue to be some demand for gasoline and automobile service stations as more EVs enter the market and gasoline vehicles are transitioned out of the market over time,” the report stated.
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“I don’t think that this is gonna change the world, [and] I don’t think any single action this council or community takes is going to fix climate change,” city council member Maxine Most said during the <a href="https://louisville.ompnetwork.org/embed/sessions/264794/03-21-23-city-council-meeting">comment period</a>.  Tomorrow, we’re not gonna find a solution that’s gonna be like, sweeping, and we’re gonna say, ‘ok, we’re gonna [decarbonize] the city buildings and that’s gonna solve climate change. The majority of climate impact is gonna come from residential and commercial. But I think it’s a really good idea for us to decarbonize because it sends a signal and it sends a message.”
“In 2023, we should not be increasing fossil fuel infrastructure. “It doesn’t make sense,” she continued. “Our state has a plan to be on 100% renewable energy by 2040 … For us to be endorsing investment in technology that we know is at the end of its life doesn’t really make sense … The reason we’re in the climate crisis we’re in is because we have allowed the free market to do what they want.”

Gas pump

Denver Suburb Votes To Ban New Gas Stations From Being Built In The Name Of Combatting Climate Change

Denver Suburb Votes To Put A Cap On Gas Stations In The Name Of Combatting Climate Change

Cars

Climate Change

Colorado

Denver

The head of the world&#8217;s largest <a href="https://www.dailywire.com/topic/cars" target="_blank" rel="noopener">automaker</a> said this week that he remains skeptical of trying to move to only producing electric vehicles and that the majority of people who work in the auto industry agree with him.
Toyota Motor chief Akio Toyoda made the remarks while speaking to reporters during a visit to Thailand.
“People involved in the auto industry are largely a silent majority,” Toyoda said. “That silent majority is wondering whether EVs are really OK to have as a single option. But they think it’s the trend so they can’t speak out loudly.”
“Because the right answer is still unclear, we shouldn’t limit ourselves to just one option,” he added.
The remarks come as supply chain issues that were sparked by the coronavirus pandemic have continued to make it difficult for manufacturers to get the raw materials needed to make new cars, especially electric vehicles.
The Wall Street Journal <a href="https://www.wsj.com/articles/toyota-president-says-silent-majority-has-doubts-about-pursuing-only-evs-11671372223" target="_blank" rel="noopener">reported</a> that while some of Toyota&#8217;s rivals have jumped fully on board with electric vehicles — setting future dates at which point their companies would only produce electric vehicles — Toyota has diversified its future product offerings and is focused on making traditional gas cars, hybrids, and hydrogen-powered vehicles.
Jack Hollis, Executive Vice President of Sales at Toyota Motor North America, said earlier this year that the company does not believe that the demand for electric vehicles is as high as people think it is.
&#8220;I don’t think the market is ready. I don’t think the infrastructure is ready,&#8221; he <a href="https://electrek.co/2022/08/25/toyota-says-no-ev-demand-try-selling-one-wheels-dont-fall-off/" target="_blank" rel="noopener">said</a>. &#8220;And even if you were ready to purchase one, and if you could afford it … (the price is) still too high … It took 25 years to get to less than 10% (market share) for hybrid … The consumer isn’t demanding (EVs) at that level. The consumer is not screaming, ‘30% or 40% by tomorrow.’”
With looming negative economic conditions in the U.S. on the horizon, combined with lowered gas prices, increasing interest rates, and high inflation rates, the market for electric vehicles could take even longer to expand.
Tesla CEO Elon Musk has also warned that the transition away from oil and gas is not as easy as people think and that society would be devastated overnight if it tried to stop using fossil fuels.
“At this time, we actually need more oil and gas, not less,” Musk said. “Realistically I think we need to use oil and gas in the short term, because otherwise civilization will crumble. One of the biggest challenges the world has ever faced is the transition to sustainable energy and to a sustainable economy. That will take some decades to complete.”

Toyota and Softbank Joint News Conference

Toyota CEO Akio Toyoda: ‘Silent Majority’ Of Automakers Not Fully Sold On Electric Vehicles

<a href="https://www.dailywire.com/topic/cnn" target="_blank" rel="noopener">CNN</a> faced intense backlash online Friday after publishing a report that suggested Americans should view a slight dip in <a href="https://www.dailywire.com/topic/gas-prices" target="_blank" rel="noopener">gas prices</a> as a &#8220;$100-a-month raise&#8221; or a &#8220;$100-a-month tax cut.&#8221;
The national average price of gasoline was $2.38 per gallon when President Joe Biden assumed office, according to the Energy Information Administration, and increased to $3.53 per gallon by the start of the Russian invasion of Ukraine, The Daily Wire <a href="https://www.dailywire.com/news/gas-prices-are-1-50-higher-since-biden-took-office-cnn-business-america-got-a-raise">reported</a>. Prices surpassed $5.00 per gallon in early June before subsiding to $3.92 per gallon as of Friday, according to AAA.
CNN Business senior writer Chris Isidore lauded the decline in gas prices without mentioning that costs remain highly elevated from the level seen less than two years ago.
“Next time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month raise,” Isidore wrote. “The steady drop in gas prices over the last few months has turned into an unexpected form of economic stimulus, coming at a time when the Federal Reserve is trying to cool the economy and battle rising prices with higher interest rates.”
Financial analyst Gordon Johnson responded to CNN, &#8220;Next time you stop at a gas station remember prices are STILL up ~90% since @POTUS took office, you are paying in after-tax dollars, and the draining of the SPR in the U.S. ends in Oct, just in time for mid-terms, which will contribute to gas prices going RIGHT BACK UP.&#8221;
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Next time you stop at a gas station remember prices are STILL up ~90% since <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> took office, you are paying in after-tax dollars, and the draining of the SPR in the U.S. ends in Oct, just in time for mid-terms, which will contribute to gas prices going RIGHT BACK UP. <a href="https://t.co/Z5dnQeHUFU">https://t.co/Z5dnQeHUFU</a> <a href="https://t.co/KDyzViUwrV">pic.twitter.com/KDyzViUwrV</a>
&mdash; Gordon Johnson (@GordonJohnson19) <a href="https://twitter.com/GordonJohnson19/status/1560792406236299264?ref_src=twsrc%5Etfw">August 20, 2022</a></blockquote>
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&#8220;Next time you read anything @CNN says, think of it as shameless propaganda for the @DNC,&#8221; Psychologist Geoffrey Miller responded.
&#8220;Orwellian,&#8221; Sen. Ted Cruz (R-TX) responded. &#8220;Next, CNN is going to try to convince you that 2+2=5. In the meantime — since truth still matters — gas prices are UP nearly 65% since Biden took office.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Orwellian. 
Next, CNN is going to try to convince you that 2+2=5.
In the meantime — since truth still matters—gas prices are UP nearly 65% since Biden took office. <a href="https://t.co/87xwbrKxR2">https://t.co/87xwbrKxR2</a>
&mdash; Ted Cruz (@tedcruz) <a href="https://twitter.com/tedcruz/status/1560712522969260032?ref_src=twsrc%5Etfw">August 19, 2022</a></blockquote>
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&#8220;Let&#8217;s be clear: The national average price per gallon is $1.52 higher than when Trump left office,&#8221; Rep. Steve Scalise (R-LA) tweeted. &#8220;That&#8217;s a 64% INCREASE in gas prices under Biden—not a &#8216;cut,&#8217; as CNN wants you to think. No one is falling for the delusional propaganda the radical left is peddling.&#8221;
&#8220;CNN just makes it so easy for its critics,&#8221; Brian Riedl, senior fellow at the Manhattan Institute, tweeted. &#8220;This is some next level gaslighting.&#8221;
&#8220;This is an apple,&#8221; James Taranto, editorial features editor at The Wall Street Journal, tweeted. &#8220;Think of it as a banana.&#8221;
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This is an apple. Think of it as a banana. <a href="https://t.co/z1hlKQNFy2">https://t.co/z1hlKQNFy2</a>
&mdash; James Taranto (@jamestaranto) <a href="https://twitter.com/jamestaranto/status/1561035188033003521?ref_src=twsrc%5Etfw">August 20, 2022</a></blockquote>
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&#8220;CNN is state media. Even Fox News isn&#8217;t this partisan,&#8221; Ram Prasad, a behavioral science practitioner, tweeted. &#8220;They should just move one alphabet and call themselves DNN: Democrat News Network.&#8221;
Ben Zeisloft contributed to this report.

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Inflation

A pair of neighboring gas stations in western Virginia have slashed their prices to under $3 a gallon in a &#8220;friendly competition&#8221; to help their community in the face of sky-high gas prices nationwide.
GB and One Stop Mart are two neighboring gas stations on Main Street in Altavista, Virginia, about 25 miles south of Lynchburg and about 120 miles west of Richmond. The two stations have cut prices well below the national and statewide averages as part of an ongoing battle to see which business can offer the lowest price in town. The owners have described the price war as a &#8220;friendly competition&#8221; between two businesses, and as a way to help give back to their community.
&#8220;It&#8217;s&#8230; a good way to give back to the community, even though we&#8217;re going down with the gas prices,&#8221; GB Fuel Manager Andy Gill told Lynchburg-based ABC affiliate <a href="https://wset.com/news/local/friendly-rivalry-gas-stations-fight-cheapest-gas-gb-one-stop-mart-main-street-altavista-andy-gill-fuel-manager-owner-lucinda-davis-customer-jessie-byrd-greg-lindsey-virginia-july-21-2022">WSET</a>. &#8220;Look at the gas prices over the last year where they&#8217;ve gone.&#8221;
Gill said he prides himself on having the cheapest gas prices in town. &#8220;It makes a lot of sense, just to sometimes sacrifice your profits to protect the business model that you established,&#8221; he said. &#8220;It&#8217;s very important to us.&#8221;
Local news outlet The <a href="https://www.altavistajournal.com/news/local/article_0280cc76-0956-11ed-8084-8775b9451192.html">Altavista Journal</a> reported Thursday that GB was charging customers paying in cash just $2.83 for a gallon of regular gasoline. At the same time, a customer told the outlet that he saw One Stop Mart&#8217;s price set at $2.99, and a nearby Walmart gas station at $3.25. Another nearby gas station had prices closer to normal levels, with its price for regular set at $3.99, the outlet reported.
Lucinda Davis, owner of One Stop Mart, told WSET that the rivalry is friendly, spurred on by GB&#8217;s lower prices for gas.
&#8220;It&#8217;s just a friendly competition between two business owners,&#8221; Davis said. &#8220;He decided to lower down, so I just come down too.&#8221;
Davis agreed that cutting prices was a way to give back to the community. &#8220;We just try to give back to the community, give back to Altavista,&#8221; she said. &#8220;Help the schools, help the police department.&#8221; Davis also said that the two competitors sometimes &#8220;don&#8217;t see eye-to-eye,&#8221; and that there has been some conflict over social media, but that they were both trying to accomplish the same thing, and she harbors no ill will. &#8220;I like him, I think he&#8217;s a good person,&#8221; Davis said of Gill. &#8220;I mean, really, he&#8217;s giving me the will to keep going.&#8221;
The prices at the two gas stations are well below both the national average and the statewide average in Virginia. According to <a href="https://gasprices.aaa.com/?state=VA">AAA</a>, the national average for a gallon of gas sits at $4.382 a gallon. The average price in Virginia currently sits at about $4.157 per gallon. The average price in the Lynchburg metro area is slightly lower, at around $4.015 per gallon.
Gill is no stranger to lowering gas prices, either. In June, when gas prices were averaging about $4.776 per gallon in Virginia, according to AAA, GB Altavista posted a picture to <a href="https://www.facebook.com/profile.php?id=100057631741546">Facebook</a> advertising gas at $3.99 per gallon.
The station then continued to lower prices, posting again on Wednesday with a picture showing gas prices at just $2.99 per gallon.
&#8220;2.99 cash at GB we love gas wars since 2012!&#8221; the post read. &#8220;Its kinda our thing part of our history!&#8221; Gill also linked to an article from <a href="https://roanoke.com/news/local/gas-drops-to-1-29-as-fincastle-store-sets-lowest-price-in-u-s-on/article_589d6ea1-6cba-58c0-abf8-ef2ce1764684.amp.html">The Roanoke Times</a>, in which another station he managed made headlines in 2016 for charging just $1.29 a gallon, more than 50 cents below the local average on $1.83 at the time.

19F8743A-7926-4196-B55C-33EB5FE3BAEA_1_201_a

VA Gas Stations Slash Prices Below $3 A Gallon In ‘Friendly Competition’

Virginia Gas Stations Slash Prices Below $3 A Gallon In 'Friendly Competition'

Virginia

Chevron&#8217;s Chief Executive Officer Michael Wirth has sent President <a href="https://www.dailywire.com/topic/joe-biden">Joe Biden</a> a letter with clear-as-day advice for what his administration should be doing to help pave the way for lower energy prices for the American people.
On June 15, President Joe Biden <a href="https://www.dailywire.com/news/biden-sends-letter-to-oil-companies-blasting-them-for-profits-demanding-they-increase-oil-production">sent</a> a letter to several major <a href="https://www.dailywire.com/topic/oil-and-gas">oil</a> companies, demanding that the energy industry ramp up oil production and combat disruption to the market from Russia&#8217;s war in <a href="https://www.dailywire.com/topic/ukraine">Ukraine</a> by lowering prices for the American people. On Tuesday, Chevron&#8217;s CEO <a href="https://www.chevron.com/newsroom/2022/q2/a-letter-to-president-biden-from-chevron-ceo-mike-wirth">answered</a> that demand with his own lengthy letter while saying the company hopes to have an &#8220;honest conversation&#8221; with the commander-in-chief.
Wirth&#8217;s letter noted that in 2021, &#8220;Chevron produced the highest volume of oil and gas in our 143-year history&#8221; and is currently investing $10 billion into green energy initiatives. Chevron then blasted the Biden administration for its anti-fossil fuel agenda.
&#8220;I want to be clear that Chevron shares your concerns over the higher prices that Americans are experiencing,&#8221; Wirth stated. &#8220;And I assure you that Chevron is doing its part to help address these challenges by increasing capital expenditures to $18 billion in 2022, more than 50% higher than last year.&#8221;
Throughout this spring, gas prices reached record highs across America. On Tuesday, the <a href="https://gasprices.aaa.com/">cost of the average gallon of gasoline</a> in the U.S. was $4.968.
&#8220;Notwithstanding these efforts, your Administration has largely sought to criticize, and at times vilify, our industry,&#8221; Wirth remarked in his letter.
&#8220;These actions are not beneficial to meeting the challenges we face and are not what the American people deserve,&#8221; he added.
The energy executive explained that there is a simple strategy that Biden can enact to lower costs and provide certainty for the industry.
&#8220;We need clarity and consistency on policy matters ranging from leases and permits on federal lands, to the ability to permit and build critical infrastructure, to the proper role of regulation that considers both costs and benefits,&#8221; Wirth said. &#8220;Many of these elements are described in our industry&#8217;s recently released 10-point plan.&#8221;
On Thursday, The Daily Wire <a href="https://www.dailywire.com/news/oil-experts-release-10-point-plan-for-biden-to-fix-energy-crisis-that-has-erupted-under-his-leadership">reported</a> that Mike Sommers, President and CEO of the American Petroleum Institute (API),  released a 10-point plan for Biden to follow to stop the historic fuel costs that have erupted under his administration.
Wirth also explained to Biden that a serious conversation — one that respects the energy industry — is needed to help lower costs.
&#8220;Most importantly, we need an honest dialogue on how to best balance energy, economic, and environmental objectives — one that recognizes our industry is vital sector of the U.S. economy and is essential to our national security,&#8221; he added.
On Monday, Biden told reporters that his &#8220;team&#8221; will meet with energy leaders this week and ask how they can explain their record profits.
Biden also emphasized his belief that Americans can use this energy crisis to transition to clean energy.
&#8220;My dear mother used to have an expression: out of everything lousy, something good will happen, if you look hard enough for it&#8221; he rambled to reporters gathered on the beach. &#8220;We have a chance to make a fundamental turn toward renewable energy, electric vehicles, and not just electric vehicles but across the board.&#8221;
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Biden: &quot;My mother had an expression: out of everything lousy, something good will happen. We have a chance to make a fundamental turn toward renewable energy, electric vehicles, and across the board.&quot; <a href="https://t.co/Si4oJ7ROFg">pic.twitter.com/Si4oJ7ROFg</a>
&mdash; Greg Price (@greg_price11) <a href="https://twitter.com/greg_price11/status/1538934196831494145?ref_src=twsrc%5Etfw">June 20, 2022</a></blockquote>
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Wirth clarified in his letter on Tuesday that Chevron representatives are willing to meet with members of the Biden administration to discuss how to lower prices.
&#8220;The American people rightly expect our country&#8217;s leaders and industry to address the challenges they are facing in a serious and resolute manner,&#8221; Wirth said. &#8220;We are a willing partner in that endeavor and trust your Administration will be the same.&#8221;

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Chevron CEO Michael Wirth Responds To Joe Biden's Letter To Oil Industry, Wants 'Honest Conversation'

Energy

A leading oil and gas organization released a 10-point plan this week for Democrat President Joe Biden to follow to stop the historic fuel costs that have erupted under his administration.
The plan was contained in a letter from Mike Sommers, President and CEO of the American Petroleum Institute (API), the only national trade association that represents all aspects of America&#8217;s oil and natural gas industry.
Sommers&#8217; letter came in response to Biden attacking the industry this week, threatening that he would invoke &#8220;emergency&#8221; powers if they did not do more to lower fuel costs.
&#8220;Your administration has restricted oil and natural gas development, canceled energy infrastructure projects, imposed regulatory uncertainty, and proposed new tax increases on American oil and gas producers competing globally,&#8221; the letter states. &#8220;Respectfully, the American people need a different direction to solve this crisis.&#8221;
API&#8217;s 10-point plan includes:
<ul>
<li>Lift Development Restrictions on Federal Lands and Waters</li>
</ul>
The Department of the Interior (DOI) should swiftly issue a 5-year program for the Outer Continental Shelf and hold mandated quarterly onshore lease sales with equitable terms. DOI should reinstate canceled sales and valid leases on federal lands and waters.
<ul>
<li>Designate Critical Energy Infrastructure Projects</li>
</ul>
Congress should authorize critical energy infrastructure projects to support the production, processing, and delivery of energy. These projects would be of such concern to the national interest that they would be entitled to undergo a streamlined review and permitting process not to exceed one year.
<ul>
<li>Fix the NEPA Permitting Process</li>
</ul>
Your administration should revise the National Environmental Policy Act (NEPA) process by establishing agency uniformity in reviews, limiting reviews to two years, and reducing bureaucratic burdens placed on project proponents in terms of size and scope of application submissions.
<ul>
<li>Accelerate LNG Exports and Approve Pending LNG Applications</li>
</ul>
Congress should amend the Natural Gas Act to streamline the Department of Energy (DOE) to a single approval process for all U.S. liquefied natural gas (LNG) projects. DOE should approve pending LNG applications to enable the U.S. to deliver reliable energy to our allies abroad.
<ul>
<li>Unlock Investment and Access to Capital</li>
</ul>
The Securities and Exchange Commission should reconsider its overly burdensome and ineffective climate disclosure proposal and your administration should ensure open capital markets where access is based upon individual company merit free from artificial constraints based on government-preferred investment allocations.
<ul>
<li>Dismantle Supply Chain Bottlenecks</li>
</ul>
You should rescind steel tariffs that remain on imports from U.S. allies as steel is a critical component of energy production, transportation, and refining. Your administration should accelerate efforts to relieve port congestion so that equipment necessary for energy development can be delivered and installed.
<ul>
<li>Advance Lower Carbon Energy Tax Provisions</li>
</ul>
Congress should expand and extend Section 45Q tax credits for carbon capture, utilization, and storage development and create a new tax credit for hydrogen produced from all sources.
<ul>
<li>Protect Competition in the Use of Refining Technologies</li>
</ul>
Your administration should ensure that future federal agency rulemakings continue to allow U.S. refineries to use the existing critical process technologies to produce the fuels needed for global energy markets.
<ul>
<li>End Permitting Obstruction on Natural Gas Projects</li>
</ul>
The Federal Energy Regulatory Commission should cease efforts to overstep its permitting authority under the Natural Gas Act and should adhere to traditional considerations of public needs as well as focus on direct impacts arising from the construction and operation of natural gas projects.
<ul>
<li>Advance the Energy Workforce of the Future</li>
</ul>
Congress and your administration should support the training and education of a diverse workforce through increased funding of work-based learning and advancement of STEM programs to nurture the skills necessary to construct and operate oil, natural gas, and other energy infrastructure.
Two major oil companies have already fired back at Biden, saying that his administration needs to do more to fix the issue.
“In the short term, the U.S. government could enact measures often used in emergencies following hurricanes or other supply disruptions — such as waivers of Jones Act provisions and some fuel specifications to increase supplies,” ExxonMobil said. “Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines.”
Chevron slammed the administration in response to Biden’s letter, writing: “Unfortunately, what we have seen since January 2021 are policies that send a message that the Administration aims to impose obstacles to our industry delivering energy resources the world needs.”

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