World fossil fuel demand is set to peak by 2030 as more electric cars hit the road and China's economy grows more slowly and shifts towards cleaner energy, the International Energy Agency said, undercutting the rationale for any rise in investment.
I have zero hope for the US to actually bite on EVs. The only reason China has seen such rapid adoption is that, even without incentives and subsidies, EVs are cheaper than ICE vehicles. That’s simply not true in the US yet and won’t be true for at least another few years.
75% YoY increase in EVs sold as a percentage of all new light vehicles from 2022 to 2023. It’s still single digits (7.1%) but I expect that number to keep rising. Will be really interesting to see what the figures are next year. Apparently California is already above 20% of new car sales.
This article also has some promising forward looking polling results.
I have zero hope for the US to actually bite on EVs. The only reason China has seen such rapid adoption is that, even without incentives and subsidies, EVs are cheaper than ICE vehicles. That’s simply not true in the US yet and won’t be true for at least another few years.
It is happening though. Just not quite as fast as in the EU for example, but the trend is cause for some optimism.
https://insideevs.com/news/657660/us-electric-car-sales-january2023/
75% YoY increase in EVs sold as a percentage of all new light vehicles from 2022 to 2023. It’s still single digits (7.1%) but I expect that number to keep rising. Will be really interesting to see what the figures are next year. Apparently California is already above 20% of new car sales.
This article also has some promising forward looking polling results.
https://www.washingtonpost.com/climate-solutions/2023/09/15/ev-tipping-point-electric-poll/
Only 46% of people surveyed preferred a fully gas powered vehicle. That seems like a big shift in public opinion from even 5 years ago.
Sure, but that’s with absolutely gigantic government subsidies even as the prices of EVs are plateauing.
Yeah and oil is majorly subsidized in the US as well.
I’d turn it around. The only reason gas cars are still sold in USA is because the gas is ridiculously cheap.
https://thehustle.co/why-gas-is-actually-cheap-in-america/