$162B California Fuel Cost Hike Pushed by EV Makers, Paid for by Poorer Drivers
Description
Makers of electric vehicles, such as Rivian and Tesla, are taking a central role in the $162 billion fuel cost hike being voted on in California in Friday, which will largely be paid for by poorer drivers who tend to live farther from work due to the state’s high cost of housing. The Low Carbon Fuel Standard program provides credits to EV makers when drivers use the makers’ home charging systems and agree to let the manufacturer take the credit, or when drivers use the makers’ public charging networks. When refineries make gasoline or other carbon intensive fuels for California, they must purchase credits, the cost of which is passed on to consumers. The average EV financing cost is $783 per month, which means government and utility rebates in the thousands of dollars for chargers or vehicle financing still keep EVs out of working families’ reach.
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Full story: https://www.thecentersquare.com/california/article_eaace2d2-9d24-11ef-99a2-4777ec6c82aa.html
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