Energy News Beat

• Retirement of coal-fired power plants in the West has done nothing to reverse global coal demand.
• Global coal consumption is set to remain at these high levels—or even hit new all-time highs—for a few more years.
• Global operating coal power capacity has increased by 13% since 2015, data from Global Energy Monitor shows.

Developed economies have been reducing their use of coal in recent years, but the world isn’t ready to kick its coal addiction, not yet. Developing markets in Asia are boosting their coal-fired power generation to meet surging electricity demand.

Despite continued retirements of coal-fired power in the U.S., lower coal demand in Europe, and the end of the 142-year coal electricity in the UK, global coal demand hit another record high last year. And consumption is set to remain at these high levels—or even hit new all-time highs—for a few more years.

Emerging Asian economies, led by China and India, have been sustaining global coal demand growth this decade. They plan additional coal-fired capacity to support their respective renewables booms with 24/7 baseload power and avoid power crunches or blackouts like the ones they suffered in the early 2020s.

Global Coal Demand At Record High

Global operating coal power capacity has increased by 13% since 2015, data from Global Energy Monitor (GEM) shows. Since 2015, when the countries reached a deal on the Paris Agreement to limit global warming to 1.5 degrees Celsius, the world has added 259 GW of operating coal power capacity. As of the end of 2024, total operating coal power capacity hit a record high of 2,175 gigawatts (GW), while another 611 GW of capacity was under development, according to GEM’s Global Coal Plant Tracker.

Global coal demand surged to another record high in 2024, the International Energy Agency (IEA) said in December, expecting the world’s coal consumption to level off through 2027.

The previous record was from a year earlier. In 2023, demand hit the then-record, and the IEA then predicted flat consumption in 2024. They were wrong—demand increased last year, their own analysis showed.

Despite forecasts of plateauing, global coal consumption could continue to rise this year and the next few years, too, depending on how China’s economy and energy security policies evolve in the coming months.

A plateau in global coal demand will largely depend on China, the IEA noted in December.

“Weather factors – particularly in China, the world’s largest coal consumer – will have a major impact on short-term trends for coal demand. The speed at which electricity demand grows will also be very important over the medium term,” said IEA Director of Energy Markets and Security Keisuke Sadamori.

Electricity demand globally is set to jump in the coming years with AI advancements and data center investments.

Growth in power demand in 2024 and 2025 is forecast to be among the highest levels in the past two decades, the IEA said in the middle of 2024.

The surge in electricity consumption could slow coal retirements in developed economies and further raise coal demand in emerging markets in Asia, especially if the growth in renewable energy capacity is not enough to meet the rise in power demand.

Two Worlds of Coal Consumption

While solar power will continue to drive the growth of U.S. power generation over the next two years, coal power output will remain unchanged at around 640 billion kilowatt hours (kWh) in 2025 and 2026, the Energy Information Administration (EIA) said last month. America’s coal electricity generation was 647 billion kWh in 2024.

U.S. coal retirements are set to accelerate this year, removing 6%, or 11 GW, of coal-generating capacity from the U.S. electricity sector. Another 2%, or 4 GW, of coal capacity would be removed in 2026, the EIA forecasts. Last year, coal retirements represented about 3 GW of electric power capacity removed from the power system, which was the lowest annual amount of coal capacity retired since 2011.

Across the Atlantic, last year saw a monumental moment in Britain’s electricity system with the switching-off of the last remaining coal power plant in the country. The plant at Ratcliffe-on-Soar was shut at the end of September, ending 142 years of coal-fired electricity generation in the UK and making Britain the first G7 country to phase out coal.

In the European Union, solar power overtook coal generation in 2024, with solar accounting for 11% of EU electricity and coal falling below 10% for the first time ever, data from clean energy think tank Ember showed.

But in China and India, the world’s biggest and second-biggest coal users, respectively, coal is still king despite the surge in renewable power installations.

The post The End of Coal Is Nowhere In Sight appeared first on Energy News Beat.

 

Energy News Beat

• U.S. and EU sanctions on Russia’s dark fleet and Iran are removing tankers from circulation, driving up VLCC demand.
• Jefferies: sanctions sideline about 15% of the global fleet.
• ADNOC L&S is aggressively expanding, recently acquiring 32 tankers and planning further VLCC acquisitions.

While the world watches the unhinged actions of the new Trump administration—playing Geopolitics 101 for Dummies—leaving Europe’s security in shambles and pushing risks and fear back into the market, oil and gas analysts are more concerned about oil prices. Current sentiment suggests lower oil prices as part of an expected peace dividend from a potential U.S.-Russia Ukraine deal. However, this expectation is not based on fundamentals or geopolitical-military assessments from experts.

Meanwhile, those inside the global crude oil markets anticipate a completely different scenario. Norway’s Domestic Wealth Fund, one of the country’s sovereign wealth funds, and Abu Dhabi-based ADNOC L&S have already seen positive developments in the VLCC market, with significant investments underway or planned for the near future.

U.S.-based investment bank Jefferies foresees a robust bull market developing in the VLCC sector. In a new report, Jefferies noted that the impact of U.S. sanctions on Russia is increasing weekly, removing a substantial number of VLCCs from the market. At the same time, Jefferies pointed out that overall demand for VLCCs remains strong, as oil markets continue an upward demand cycle. Sanctioned volumes—particularly from Russia’s dark fleet and Iran—are being removed from circulation, leaving other producers scrambling for additional transportation capacity. The investment bank also expects non-sanctioned producers, especially non-OPEC, to increase production volumes. In the coming months, if OPEC statements hold true, additional volumes from Saudi Arabia, the UAE, and other Gulf producers are also expected to enter the market. Spare production capacity is expected to be utilized soon.

Currently, the global VLCC market consists of approximately 906 ships, 18 of which are already being used for floating storage. This leaves an available fleet of 888 VLCCs, of which 95 are under sanctions. Another 45 have been identified as having transported Iranian barrels, making them subject to sanctions as well. The former Biden administration had already placed 39 VLCCs on the OFAC list between October 2024 and January 2025. The current Trump administration is expected to impose additional or even maximum pressure sanctions on Iran and Russia in the coming months.

The global seaborne crude oil trade is approximately 40 million bpd, with VLCCs handling 22 million bpd. The dark fleet is believed to transport around 2 million bpd of these volumes. Jefferies predicts that overall VLCC fleet utilization will reach around 90% in 2025, with roughly 10% of ships sanctioned. If all OFAC measures are implemented, this figure could rise to 15%, removing an additional 45 VLCCs from the market.

Given this outlook, recent statements from ADNOC Logistics & Services (L&S) CFO Nick Gleeson come as no surprise. Gleeson stated that VLCCs currently represent an extremely attractive investment opportunity. ADNOC L&S has been building a strong position in the maritime logistics sector within the GCC, with ambitions to become a true global player. Over the past few months, the Abu Dhabi giant has expanded its fleet with 32 tankers following the acquisition of Navig8, a deal finalized last month. Since its listing in 2023, ADNOC L&S has launched an aggressive $6 billion expansion drive. Gleeson also stated that post-IPO spending is just the beginning. With backing from ADNOC and other key stakeholders, the company is poised to expand globally, with further acquisitions in the VLCC market expected.

In its FY2024 financial report last week, ADNOC L&S reaffirmed its capital expenditure guidance, reflecting its commitment to long-term growth and strategic expansion. The company anticipates an additional $3 billion+ in value-accretive organic investment by 2029, beyond already announced projects, applying the same investment return criteria.

At the same time, Norway’s Domestic Wealth Fund has also been highly active. Reports indicate that the smaller Norwegian SWF, which holds $36 billion, increased its shares in Frontline and Hafnia, two major tanker companies, in the second half of 2024. Folketrygdfondet, the fund manager, raised its stake in Frontline to 5.9%, up from 4.9% in June 2024. The stake is now valued at NOK 2 billion, or approximately 13 million Frontline shares.

A Bullish VLCC Market – But With Risks Ahead

The VLCC market is fundamentally bullish, driven by U.S. and EU sanctions on Russia’s dark fleet and Iran. Meanwhile, total crude oil demand remains strong, so removing sanctioned VLCCs from circulation will push freight rates even higher.

However, a black swan looms on the horizon. With around 80 new VLCCs currently on order, price pressures could emerge. The impact of these additions will depend on broader geopolitics—particularly U.S.-Russia-China dynamics—and the fact that nearly 100 VLCCs will reach 20+ years of age soon. While scrapping these aging vessels is likely, economic factors could influence the decision to keep them operational.

Given the prudent strategies of major players—especially Abu Dhabi and Saudi Arabia—significant shifts are expected in the market. A surge of Arab investments in VLCCs is clearly on the horizon. For other market players, the time to act is now if they want to maintain their share. Geopolitical factors must also be considered, as vessel ownership will increasingly influence which routes crude oil flows through worldwide.

By Cyril Widdershoven for Oilprice.com

 

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Energy News Beat

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Brussels is ready to discuss “anything” to avoid Donald Trump’s threatened tariffs on European exports, EU trade chief Maroš Šefčovič said ahead of his visit to Washington next week.

“I’m asking my American partners, why do we have to go through this pain?” Šefčovič told attendees at the Munich Security Conference on Saturday. “If there are other issues on the table, let’s sit together, let’s resolve it.”

The Commission’s Slovak stalwart suggested that Brussels is willing to reduce its substantial surplus in goods and services with the US, which reached €50 billion last year and has been repeatedly criticised by Trump.

Šefčovič also signalled that the EU is ready to reduce its 10% tariff rate on cars, which is four times higher than the US rate.

Echoing previous Commission proposals, he also indicated that the bloc could boost purchases of US goods such as liquefied natural gas (LNG) and soybeans.

“If the €50 billion is a problem, if the cars are the problem, if the soybeans are the problem, if the LNG is the problem – anything you want to discuss, we are ready to discuss it,” he said.

Šefčovič’s remarks came just hours after EU officials confirmed that the he will travel to Washington on Monday to hold talks with senior Trump administration officials, including Commerce Secretary nominee Howard Lutnick, trade representative nominee Jamieson Greer, and National Economic Council chief Kevin Hassett.

Last week, Trump announced 25% duties on all US imports of steel and aluminium as well as “reciprocal tariffs” aimed at matching levies imposed by other countries.

The former tariffs are set to enter into force by March 12, while the latter could be introduced as early as April 2, according to the White House.

Analysts and European industry groups have warned that the duties are likely to exacerbate the bloc’s economic malaise and could lead to US-bound Chinese exports being re-directed and “dumped” on European markets.

Šefčovič’s desperate plea to avoid the tariffs contrasted starkly with the more pugnacious stance taken by Mélanie Joly, Canada’s minister of foreign affairs.

Speaking on the same panel as Šefčovič, Joly argued that only Ottawa’s threat of retaliatory duties on $155 billion worth of US goods persuaded Trump to reverse his pledge to impose a blanket 25% levy on Canadian goods earlier this month.

“What President Trump respects is strength,” she said, adding that Brussels and Ottawa should “work together” to address Trump’s protectionist policies.

“We’re the canary in the coal mine. If the US administration is doing that to Canada, you’re next. And we need to work together on this,” she said.

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Energy News Beat

• The United States remains a major consumer and producer of coal, even with the growth of renewable energy sources.
• Coal consumption and production have decreased in recent years, but coal still plays a significant role in U.S. electricity generation.
• Changes in political administration and international energy demand could influence the future of coal in the United States.

While many countries worldwide are moving away from a dependence on coal, the U.S. still relies heavily on the dirtiest fossil fuel for its power. The U.S. has experienced an accelerated green transition since the introduction of the Biden administration’s Inflation Reduction Act (IRA) in 2022, which has spurred a massive increase in the country’s renewable energy capacity and attracted billions in private funding.

However, this shift has not stopped the U.S. reliance on coal, as the third-largest consumer of coal in the world after China and India. The U.S. continues to be the fourth-largest producer of coal, after China, India and Indonesia, and it has more coal reserves than any other country. The U.S. had 206 active coal plants remaining in 2023. Around a quarter of domestic coal generation is expected to be retired by 2040 but the pace of planned retirements slowed last year as energy demand increased.

Coal production in the U.S. has fallen in recent years, as oil and gas production increased, and the country expanded its renewable energy capacity. According to the U.S. Energy Information Administration (EIA), U.S. coal production decreased 2.7 percent year over year from 2022 to 2023, to 577.9 million short tons (MMst). Meanwhile, U.S. coal consumption fell by 17.4 percent in this period, from 515.5 MMst to 425.9 MMst, and the electric power sector contributed 387.2 MMst (90.9 percent) of total U.S. coal consumption in 2023.

The EIA forecast that coal’s share of U.S. electricity generation would fall to a record low of 16.1 percent in 2024, as several coal mines were retired and alternative energy capacity increased. Non-coal power generation was expected to be sourced from natural gas, 41.6 percent; nuclear, 19 percent; and renewable energy sources, 22.8 percent. The EIA expected coal production in 2024 to total 499 MMst, marking a decrease of 14.2 percent from 2023, and fall by a further 5 percent in 2025, to 474 MMst. It forecast that the electricity power sector would consume 384 MMst in 2024, around 1 percent less than in 2023, and an additional 2 percent less in 2025.

However, as coal production begins to decrease faster than consumption, it will likely lead to a reliance on existing inventories, until the alternative energy capacity increases. Coal inventories stood at 120 MMst by the end of July last year and are expected to fall to around 84 MMst by the end of 2025.

In terms of exports, the EIA expected coal exports to total 103 MMst in 2024, marking a 3 percent increase on 2023. This figure is expected to climb by an additional 0.8 percent in 2025, to 103.8 MMst. The EIA stated, “Although coal exports in our forecast remain robust, ongoing declines in coal production are the result of less coal being used to generate electric power domestically due to relatively low natural gas prices and 12 GW of coal-fired electricity generating capacity going into retirement.”

In addition to heavy domestic reliance on coal, an increase in coal consumption in Asia could drive growth in the U.S. coal export market. In 2024, India’s thermal coal imports rose by around 12 percent, while China’s rose by 8 percent, a trend which is expected to continue for several years. The IEA predicted in 2024 that by 2035, global electricity demand would be 6 percent higher than it had previously predicted, leading to a prolonged reliance on coal to meet this demand.

While U.S. domestic coal use and production has fallen in recent years, under the new President Donald Trump administration, we could see this downward trend shift in a different direction. On his first day in office, Trump declared a national energy emergency, followed shortly after by the announcement that coal could be a fuel source for new electric generating plants. During a virtual appearance at the annual World Economic Forum in Davos, Trump stated, “They can fuel it with anything they want, and they may have coal as a backup — good, clean coal.” He added, “We have more coal than anybody.” Following Trump’s comments, U.S. coal producers’ shares climbed. The largest U.S. coal miner, Peabody Energy Corp., saw its shares increase by around 7.6 percent.

Despite Trump’s support for coal as a ‘backup’ energy source, U.S. efforts to ramp up oil and gas output mean that natural gas is now cheaper, and coal is no longer economically viable in comparison. While coal might be phased out at a slower pace under Trump, most experts agree that coal is simply too expensive to make a meaningful comeback. While the increasing power demand will drive energy production, this demand will likely be met with higher gas output, as well as through the expansion of the country’s renewable energy capacity.

By Haley Zaremba for Oilprice.com

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President Donald Trump wasted no time flexing his pro-fossil fuel stance, approving the first LNG export permit since Biden’s controversial pause last year and creating a new energy council to expand U.S. oil and gas production. The move is a sharp policy reversal and seeks to reinforce America’s position as the world’s top hydrocarbon producer.

Commonwealth LNG, the long-waiting recipient of this permit, can now proceed with its 9.5 million metric tons per annum (mtpa) export facility in Louisiana, targeting markets in Asia and Europe. The approval effectively ends the uncertainty caused by Biden’s freeze on new LNG export authorizations—a pause that the administration initially framed as temporary but dragged on into perpetuity.

Trump lifted that freeze the moment he stepped back into office.

Beyond LNG, Trump has reopened over 600 million acres of offshore federal waters for oil and gas development, reversing restrictions imposed during Biden’s tenure. The newly formed energy council, led by Interior Secretary Doug Burgum, is set to drive policy aimed at maximizing domestic energy output.

Industry players are already moving fast. Cheniere Energy (LNG) and Energy Transfer have signaled plans to accelerate their LNG export projects, while offshore drillers are eyeing fresh opportunities in newly opened federal waters.

Trump’s latest moves are sure to inflame environmental opposition, but legal hurdles are unlikely to slow things down much. A federal judge recently blocked Biden’s LNG moratorium, ruling the pause unjustified. With regulatory roadblocks disappearing and demand for U.S. LNG soaring—especially in Europe, which remains eager to replace Russian gas—the American LNG boom is back in full swing.

The question now isn’t whether U.S. energy dominance will continue, but just how much Trump is willing to push the envelope. And if history is any guide, he won’t be playing it safe.

By Julianne Geiger for Oilprice.com

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Energy News Beat

EPA has uncovered a Biden-era $20B scheme funneling tax dollars to NGOs with little oversight, raising concerns over waste, fraud, and favoritism.

​

Between DOGE, O’Keefe Media, and Project Veritas, the Deep State just keeps exposing how corrupt they are and where the bodies are buried. [emphasis, links added]

In a three-minute video, EPA administrator Lee Zeldin explained how they found those “gold bars” that the Biden EPA had tossed “off the Titanic” in the waning days of the administration when they were attempting to gum up the works for incoming President Donald Trump while still funneling money to their left-wing causes to avoid discovery.

Oops.

The information was not only detailed but had lots of meat to chew on.

Zeldin began:

One of my very top priorities at EPA is to be an excellent steward of your hard-earned tax dollars. There will be zero tolerance of any waste and abuse.

An extremely disturbing video circulated two months ago, featuring a Biden EPA political appointee, talking about how they were tossing gold bars off the Titantic. Rushing to get billions of your tax dollars out the door before inauguration day.

The “gold bars” were tax dollars, and tossing them off the Titantic meant the Biden administration knew they were wasting it. Following this revelation, during my meetings with members of Congress, I made a very important commitment to them and to the American people, which I reiterated at my confirmation hearing. That if confirmed, I would immediately get a full accounting. Fortunately, my awesome team at EPA has found the gold bars.

Shockingly, roughly 20 billion of your tax dollars were parked at an outside financial institution by the Biden EPA. This scheme was the first of its kind in EPA history, and it was purposely designed to obligate all of the money in a rush job with reduced oversight. Even further, this pot of 20 billion dollars was awarded to just eight entities that were then responsible for doling out your money to NGOs and others at their discretion with far less transparency. Just under 7 billion dollars was sent to one entity, called “The Climate United Fund.”

The Biden-Harris administration paid POLITICO for subscriptions, and the outlet performed its propaganda PR work well, proudly announcing this $20 billion Biden-Harris EPA partnership in April 2024.

The Biden administration announced recipients of the climate law’s biggest grant program Thursday, kicking off a $20 billion effort to transform community lending and green the U.S. economy.

EPA will award eight initial grants under the Greenhouse Gas Reduction Fund, ranging in size from $400 million to almost $7 billion. The largest award will go to Climate United, a partnership that includes a nonprofit impact investment firm and two affordable housing lenders.

A senior administration official told reporters Wednesday that the EPA finance program would “create a first-of-its-kind national network of clean technology financing institutions that will finance tens of thousands of climate and clean energy projects in the years to come.”

Can you say “money laundering,” boys and girls? Because that essentially is all these green climate scams turn out to be.

We learned nothing during the Obama-Biden administration about the dangers of these boondoggles except how they could hide the money better.

Any time you use the terms “low-income” and “underserved populations,” you know to check your purse to ensure your wallet hasn’t been pinched.

With great potential for fraud is the greater potential that these populations they claim to serve will be screwed over after things go south.

Read rest at RedState

 

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Energy News Beat

The US president has warned of severe tariffs if the geopolitical bloc pursues a common currency

 

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The White House has ended Biden’s Climate Corps, a multimillion-dollar program created for his aggressive green agenda.

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The White House this week formally terminated the American Climate Corps, former President Joe Biden’s signature multimillion-dollar work program created to bolster his aggressive climate and green energy agenda, the Washington Free Beacon has learned. [emphasis, links added]

On Wednesday, the eight federal entities tasked with managing the American Climate Corps—including the White House, AmeriCorps, and the Department of the Interior—signed off on terminating the program and dissolved the original memorandum of understanding that established it, a senior White House official told the Free Beacon.

The White House also took the program’s official website, which was used to recruit workers, offline.

“Another win, on Wednesday, Biden’s ‘American Climate Corps’ was officially shuttered,” the official said. “President Trump promised to end the Green New Scam, and he is doing just that.”

The termination of the American Climate Corps is another salvo in Trump’s sweeping energy agenda—in its first weeks in office, the president’s administration has reopened millions of acres for oil drilling, reversed a policy shuttering natural gas exports, and gutted environmental justice programs across the government.

The action also follows through on Trump’s promise to roll back Biden’s many Green New Deal-style initiatives.

Biden unveiled the American Climate Corps in September 2023, saying the program would deploy more than 20,000 Americans to work on climate resilience, green energy, and environmental justice projects nationwide.

The program, which launched on Earth Day in April 2024, posted thousands of job listings for positions like field coordinator, hydrologic technician, and land conservation crew member located across 36 states, Washington D.C., and Puerto Rico.

Like other Biden-era programs, the corps was infused with left-wing cultural ideas, which included positions like an anti-racist gardener position that paid $20 an hour.

The program was a direct outgrowth of the Green New Deal. Far-left lawmakers, climate activist organizations, and Green New Deal sponsors like Sen. Bernie Sanders (I., Vt.) and Rep. Alexandria Ocasio-Cortez (D., N.Y.) had spent years calling for a $30 billion federal climate work program.

Those same groups and lawmakers were among the most vocal supporters of Biden’s American Climate Corps.

The program was also explicitly designed to promote diversity, equity, and inclusion by hiring Americans with little experience.

Upon its creation, the White House said the program would mobilize a “new, diverse generation” to fight global warming. In September 2024, the Environmental Protection Agency created an environmental justice branch of the corps.

Republicans, meanwhile, panned the American Climate Corps as wasteful, unnecessary, and a backdoor attempt to shut down domestic fossil fuel production.

House Oversight Committee chairman James Comer (R., Ky.) launched an investigation into the program’s funding, noting that it was unclear where the White House would obtain the funds required to hire tens of thousands of workers.

The Biden administration ultimately reallocated millions of dollars from existing federal programs to initiate the program.

Biden then requested $8 billion in his 2024 budget proposal to fund an additional 50,000 Climate Corps jobs annually through 2031, though Congress never approved that request.

Read rest at Free Beacon

 

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EVs don’t perform well in freezing temps, and Americans can be thankful they won’t be forced to buy them.

​With 90 million people still in the path of the snow and ice storms sweeping across America, motorists can particularly appreciate President Donald J Trump’s Day One executive order eliminating automobile manufacturers’ requirements to sell electric vehicles. [emphasis, links added]

How appropriate that the president signed his executive order on one of the coldest days of the year.

Electric vehicles are estimated to lose an average of 20 percent of their battery range in cold weather. Research has found that, in freezing temperatures, a Tesla Model X (with a heat pump) loses 11 percent of its normal range. A Volkswagen ID.4 loses 37 percent.

Americans love choice, and drivers want to be able to choose their cars.

Eight percent of cars sold in 2024 were battery-powered electric, but President Joe Biden ordered his Environmental Protection Agency and his Department of Transportation to issue unpopular regulations that could have required the majority of all new passenger cars sold and a quarter of heavy lorries to be battery-powered electric by 2032.

President Trump has promised to undo these regulations and get rid of electric vehicle subsidies for manufacturers and drivers.

Electric cars can run out of power in ice storms. In many areas, the only cars seen on roads in the current spate of snowstorms are sport utility vehicles, pickup trucks, or other four-wheel-drive vehicles.

New York City dropped its electric snowplows because “they could not plow the snow effectively” and “conked out after four hours,” compared with 12 to 24 hours of operation for diesel snowplows, according to New York Department of Public Sanitation commissioner Jessica Tisch, now New York City police commissioner.

Small businesses and farmers cannot take snow days off, so they rarely work with electric vehicles. That’s good – imagine the economic loss of farmers and technicians and small businesses unable to work on snow days because their trucks and tractors “conked out”.

President Trump plans to end the tax credit of up to $7,500 per car to buy or lease an electric vehicle, passed by Congress in the Inflation Reduction Act.

Even with the $7,500 tax credit, car salesmen are not selling enough EVs to meet the mandate. In 2023 and 2024 they wrote to President Biden begging him to “tap the brakes” on his regulations.

Over 80 percent of these EV tax credits are claimed by households in the top fifth of the income distribution. Many use the vehicles as second cars for in-town trips, but for longer trips, they have a gasoline-powered car.

The electric version of the base version of the Ford 150 pickup truck, the best-selling vehicle in America, costs almost an additional $30,000.

Tesla’s base prices start at $39,000 for a Model 3 and go up to almost $100,000 for a Model X.

A diesel lorry can cost about $120,000; an electric lorry can cost as much as $450,000- $500,000, raising the costs of transporting goods for everyone.

Plus, America doesn’t even have the electrical grid capacity, the charging stations, or the technology to operate a fleet of EVs and long-haul electric lorries [trucks] – and won’t for quite some time.

Vehicle chargers are competing for room on the electric grid with data centers, artificial intelligence technology, and demands for more heating and air conditioning.

Conventional cars can be easily refueled at the pump in five or 10 minutes, but recharging an electric vehicle can take 45 minutes.

If someone is already using the charging station, the wait can double. Most people don’t want to let their EV batteries go below 20 percent, and the charging rate can go down when it is charged over 80 percent.

Privileged EV owners can recharge cars at home or work. But not everyone has such facilities. Some live in houses and flats without garages and must rely on public charging stations for their EVs.

Although Congress allocated $5 billion in 2022 to the National Electric Vehicle Infrastructure Program to build 500,000 charging stations, only 58 are in operation today, according to The Washington Post.

Tesla has its own network of charging stations for its cars, but drivers of other vehicles rely on private or government-provided charging stations.

Americans want to be energy-independent, but requirements for EVs make America’s transportation network dependent on China, which strengthens the Chinese economy.

China makes 80 percent of the world’s electric batteries, and the Chinese car company BYD is the world’s largest electric vehicle producer.

Read rest at Telegraph

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