The Truth about the Electric Car Con Game

[dan_s]

January 11, 2024
The Electric Car Con Explained
By William Levin

Is electricity a source of energy? Most people will answer yes, which is incorrect. Electricity carries energy but it is not itself a source of energy, which in the U.S. is supplied 60% by natural gas and coal, 18% nuclear and 22% renewables (hydro, solar and wind).

The related question is whether cars are a major consumer of energy and hence a significant contributor of Co2 emissions? Again, most people believe both statements are self-evidently true, hence the importance of moving to electric cars.

In fact, cars (light-duty transportation) account for less than 5% of global energy demand, with U.S. cars accounting for 19% of the global car fleet, declining to under 15% by 2050 as car demand grows faster outside the U.S.

Putting these facts together, and they are indisputable facts, provides a stunning insight.

The U.S. car fleet accounts for a mere 1.0% of global energy demand (5% x 19%), declining to 0.8% by 2050. So even if the U.S. shifts 100% to electric-powered cars, the maximum climate impact in 2050 is a meaningless 0.2% (22% x 0.8%) reduction in global Co2 emissions from the current electric grid, up to a maximum of 0.5% assuming solar, wind, and hydro can, implausibly, power 60% of electric demand.

In other words, there is no factual basis to claim that the government mandate to switch to electric cars will have any material impact on global Co2 emissions.

Read full article here: https://www.americanthinker.com/articles/2024/01/the_electric_car_con_explained.html

[dan_s]

Watch this video from a very smart scientist: https://www.youtube.com/watch?v=KazGXAqgkds

[Lbark]

Dan, I am reading Fossil Future by Alex Epstein and it is a well written book debunking lots of energy myths. Have you read it? Unfortunately, today seems like uranium months ago where all it did was go down and sentiment was awful. Seems like sentiment is bad now. Not sure what COT reports show. Seems like diference with uranium is that there are huge supply demand imbalances which very few disputes whereas in oil there seem to be some saying we have too much supply, etc. Agree Mideast can only get worse but will oil shock be enough to bet oil going again. What would you be looking for as the catalyst to get oil going back up again?

[dan_s]

Oil demand is seasonal. We are currently in a low demand period. From March to June global demand for oil will increase by more than 2 million bpd. Plus, U.S. oil production will soon peak and likely go on decline in 2H 2024.

All of our model portfolio companies are profitable at today's oil & gas prices. Most investors don't understand how profitable these companies are. Q4 results should help the share prices.

[mitchl]

More EV ownership might help the great paradigm shift… in a sense.


https://www.fox32chicago.com/news/dead-teslas-oak-brook

Can’t help but imagined I’d be pretty frustrated as one of these car owners.

[mitchl]

In extreme temperatures it is not only that range is more limited but you might not catch a charge at all!