Posted on 12/10/2018 5:57:38 PM PST by Hojczyk
Subsidies: President Trump's economic adviser Larry Kudlow says subsidies for electric cars and other renewable energy programs might soon be eliminated. That would be a major victory on the road to energy freedom.
National Economic Council chief Kudlow, a well-known free marketeer and supply-sider, said subsidies might disappear as soon as 2020 — interestingly, the next presidential election year. The decision comes after General Motors — the beneficiary of $2,500-$7,000 tax credits for those who buy GM's plug-in cars, not to mention two separate corporate tax cuts — decided to close five North American plants, leaving 14,700 workers without jobs. The move infuriated Trump.
"As a matter of our policy, we want to end all of those subsidies," Kudlow said. "And by the way, other subsidies that were imposed during the Obama administration, we are ending, whether it's for renewables and so forth."
Moreover, the billions of dollars of subsidies and credits don't go to all Americans, but mainly to high-income ones, since electric cars are still highly expensive on average. As the Competitive Enterprise Institute explains, "79% of EV (electric vehicle) tax credits were claimed by households with an adjusted gross income of more than $100,000 a year."
So Americans are subsidizing toys for the rich that aren't necessarily either as economic or clean as advertised.
The same is true of other "alternative energy" subsidies, by the way. We should get rid of them all. They merely distort free energy markets, which will work just fine at delivering the best energy available at the lowest price.
(Excerpt) Read more at investors.com ...
How about ethanol...hell cut every subsidy... better yet get rid of everything..that will kill the deep state..
“How about ethanol”
Iowa caucuses
Yup
My wife is from China, I have been in Beijing several times with her. There are millions of electric vehicles in use there, everything from scooters to busses. China built many power plants to supply the required electricity. The air pollution there is so bad that you think you are in the middle of a forest fire.
should end - but they won’t
A former co-worker had a Toyota Prius, last year she was driving it up to Maine and the thing caught on fire, luckily everyone got out of the car, but the sucker went up into a giant ball of flames, nothing was left, it was just a piece of charcoal in the road. She recorded it all on her cell phone.
For whatever “green house gases, carbon or whatever” she was reducing was put back just by having the stupid thing burst into flames. It was only a couple years old, it polluted more then my aging Dodge pick up truck with a v8 engine did since it was made.
air pollution there is so bad that you think you are in the middle of a forest fire.
So it is like California?
End all these ridiculous subsidies.
Subsidies are just a vehicle for political payoffs. Should’ve ended after Solyndra.
GET THE ETHANOL OUT of pure gas....
nitpick on...
There is no actual ‘subsidy’ for ethanol, but there is a mandate to blend it.
(perhaps a distinction without a difference)
nitpick off...
as I always ask when I pull up to a parking space that has an electric car charge station - “Where is my free gasoline?” Then add to that they are not paying any road usage taxes (as they are charged as a tax on gallons of gas or diesel).
Toyota has a hydrogen car out.
Water exhaust.
You’ve probably never been to California.
Yeah like decades ago
An upscale grocery store near me has free car chargers. Saw a guy hook up his Tesla 3 and hop into a BMW suv driven by a woman and leave.
Reminds me a bit of kids stealing gas from overhead farm fuel tanks years ago.
Who won the Iowa caucuses in 2016?
What was his position on Ethanol motor fuel?
Hydrogen is not a fuel. Hydrogen is an energy transfer mechanism.
How is hydrogen produced? What are the effluents from that process?
If they can’t get it right after like 190 years it will never happen
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