Joe Biden’s heavy truck electric vehicle mandates would cost the economy billions and force inflation up one percent all by itself, according to a report.
Biden is still pushing his disastrous EV mandates and one of them is that all trucks (semis, delivery vehicles, and other business class vehicles) must be all-electric by 2032. But the mandate would come at an economy crushing, jobs-killing cost.
Per Just the News:
The plan has been met with considerable opposition from the trucking industry. Just about every product Americans consume at some point — and sometimes multiple points — along the supply chain shipped by vehicles is impacted by the rules. A new study shows that the cost of this mandated transition will boost Biden’s already high inflation rates up another percentage point.
The Institute for Energy Research, a free-market energy think tank, predicts that due to the costs of this forced transition, businesses will resist the mandates. Should the mandates proceed despite the objections from industry, the transition to electric trucks will disrupt supply chains and drive up the costs of most goods.
Trucking industry insiders say that the mandates are “unachievable.”
The American Trucking Association “opposes this rule in its current form because the post-2030 targets remain entirely unachievable given the current state of zero-emission technology, the lack of charging infrastructure and restrictions on the power grid,” Chris Spear, president and CEO of ATA, said in a statement at the time the rules were finalized.
According to the calculations, it will cost 100 percent more to ship items by ruck using EV rigs, the report adds.
And none of these calculations even take into account the actual manufacturing of EV heavy trucks, only the purchase and operating costs.
Actually manufacturing enough of these sort of vehicles to serve shipping needs across the country will range into the multiple billions, and that is IF there are even enough raw materials for all the batteries that these rigs would need.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
