Posted on 02/09/2021 7:17:26 AM PST by blam
As President Biden moves to suspend oil and gas leasing on federal land – and has halted further development of the Keystone Pipeline – California has announced fossil-fuel vehicle sales bans by 2035. So what about on a country-level? Who has already announced future bans?
To help us answer those questions is BofA’s equity strategist Haim Israel who laid out to clients in a note titled “Climate Wars” this week which countries are set to ban gasoline cars.
More than a dozen countries from 2025 to 2040 have already announced future bans on gasoline cars. The first bans include Belgium and Norway in 2025. In 2030, Germany, India, Netherlands, Denmark, Israel, Sweden, Ireland, and the UK. While most US has yet to commit to banning gasoline car sales, California is the only state that has said by 2035 it could do so. Under a Biden administration, we assume more and more states will soon announce their plans to ban gasoline car sales. And last, by 2040, Canada, France, Taiwan, Spain, and Singapore announced they will ban gasoline car sales.
Israel laid out each country’s progress of electric car sales between 2025 to 2030. He mapped out how France was likely to be the leader with the highest share of electric vehicle sales in terms of annual car sales.
For the US to take federal action and ban gasoline car sales in the future. More electric car supply chains need to be shifted to the US from Asia. Biden’s plan requires at least 50% of EV parts be made in the US.
“This would not only rapidly accelerate a transition to EVs but likely be accompanied with policy to support US supply chains vs the largely Asia based battery/EV value chain currently. A Chevrolet Bolt for example has only 24% of the parts used from the US & Canada (per Bloomberg), with Korean based LG Chem providing much of the content. Policies to require >50% parts made in America are already beginning to be announced by President Biden, with all-electric vehicles purchased for the Federal fleet requiring this threshold, for example,” Israel said.
With the world gravitating towards EVs and countries already announcing future bans on gasoline cars, the push to electrify transportation will require large amounts of rare earth metal production.
The Peoples’ Republic of Kalifornia.
Monaco.
Heh. Lichtenstein after that.
They should figure out how many windmills or how many solar panels it will take to charge an electric vehicle for one day and require that many to be built for each electric vehicle sold. That does not consider the battery and waste issues from windmills and solar panels.
I have no expertise in this — just a little common sense. Some of these government schemes sound like when young Fidel Castro, in order to diversify Cuban agriculture, wanted to go big on planting a certain crop that experts warned wouldn’t grow in Cuba. Fidel ordered it planted it anyway. It didn’t grow.
When I am out on the Illinois Tollway and look at diesel and gasoline powered vehicles as far as the eye can see in both directions, I wonder where all of the electricity is going to come from to power those vehicles’ EV replacements?
It will be OK to shut down fossil fuel extraction and consumption just as soon as we get the hydrogen mines up and running.
Then we can dispense with rechargeable batteries altogether and go straight to all fuel cells to power our portable equipment, vehicles and common power tools and the like. No need at all for lithium or rare metals mining and smelting industries.
“Fossil fuels” will be used for power generation well into the 22nd Century, if not longer.
So after sunset or when the wind stops, how do you go to pharmacy to fill your prescriptions?
Hence Tesla’s market cap racing toward $1T.
While most auto manufacturers are figuring out how to make EVs, Tesla is making factories to make factories to make EVs.
Whether EVs are a good idea or not, they’re happening. See lots of them in my area.
Before electric cars can truly be a thing, they need to convert every gas station to electric charging stations. They have to get charging down to 10 minutes and the price of an electric car has to go down 10 grand. Then maybe electric cars could be mainstream.
Which Countries Will Ban Fossil Fuel Car Sales First?
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The most stupid.
That’s why Tesla has a “home solar” subsidiary: if you can’t rely on grid to supply power, harvest your own. Get an EV with greater battery range than average use, and rarely need grid power for recharging.
Before berating EVs as grid dependent, remember gas cars _always _ need powering from a grid. I’ve seen enough gas shortages that I want at least one EV and one ICE to have transport under any grid-down conditions.
Batteries are a thing.
Where’s the graph of the relative share of rolling and total blackouts by country?
These morons have no concept of the infrastructure for non-fossil fuel vehicles. The grid can barely provide for the current level of use.
here in hurricane prone florida my area had no electricity for almost 2 weeks after hurricane irma rolled through...
until someone figures out how to store electricity in gas cans electric vehicles won’t cut it here...
We were so lucky even are internet and cable stayed on and we were 10 miles from the eye. That was a frightening night. What do these dang hurricanes always have to be at night? I hate that most.
Walkistan
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