Transportation Electrification Faces Off Against Oil
The oil industry vs. the electric car; Electric vehicles could make up nearly half the fleet of passenger cars and trucks by 2040. But oil and gas companies are striking back.
Gavin Bade, September 16, 2019 (Politico)
“The oil industry is trying to crush the booming electric car movement…[Oil-backed groups have challenged electric companies’ plans to expand charging infrastructure] in 10 states…The counterattack involves an array of trade associations and industry-funded political groups…[including the American Fuel and Petrochemical Manufacturers, a trade group for gasoline makers, the American Petroleum Institute joined with the Koch-funded Americans for Prosperity. But consumer] advocates and some independent charging firms argue that utilities, which operate as monopolies, are using electric vehicle infrastructure to pad their balance sheets because their captive customers will have to pay for the investments…
Utilities say the upfront cost of charging stations is minimal for ratepayers, and that customers' bills may actually drop as electric vehicle adoption grows because the cost of power grid infrastructure will be spread over a larger base of power demand…[T]he oil sector hasn’t seen much success combating utility plans…[but many expect oil companies to keep up the fight because electric vehicles are becoming cost-competitive, making the biggest hurdle to greater adoption the deployment of] enough chargers to fuel their growth…[In response, utilities and some automakers] have stepped up their electric vehicle lobbying…[and environmental groups] have come to view them as powerful allies to cut transportation pollution…[State regulators will increasingly be on] the front lines of the battle…” click here for more