Don’t Rush Out and Buy an EV Yet – Electricity Costs Are Skyrocketing

Don’t run out and buy that expensive EV just yet. Electricity costs are soaring. The Left wants you to believe that skyrocketing electric bills means you need to buy an EV.

They want you to believe you need more alternative energy. It’s not working but believe it anyway.

Team Biden brought about the gas and oil problem, and them alone. But, they want you to believe it was brought about by Putin and myriad other things and people.

If you listen to Con Ed, the spike in your bill is a direct consequence of the rising cost of acquiring natural gas, due to its global supply and demand. In the past few months, the commodity price has hovered between $4.00 and $6.00/MMBtu, which are averages we haven’t seen since the 2008 financial crisis, The NY Post reports.

We should note that President Joe Biden scrapped the Keystone pipeline and paused new oil and gas leases during his first week in office, which went a long way in bringing this about. To say nothing of his oppressive regulations destroying the industry.

In New York, we lost Indian Point and our refineries are shutting down, so we’re in bad shape here.

IT’S GETTING WORSE GLOBALLY

U.S. electricity customers are facing some of their biggest bills in years as volatile natural gas prices are being driven higher by winter demand and global supply shortages, aggravated by Russia’s war against Ukraine, the Wall Street Journal reported in mid-March.

Currently, the scarcity of natural gas supplies has made it more expensive for utility companies to buy/produce electricity. As a result, some customers have seen their winter electricity bills increase by 20% or more year over year, in addition to higher indoor heating bills.

EVs aren’t going to work if electricity is unaffordable.

The EU Commission Is Worried.

The President of the European Commission, Ursula von der Leyen, acknowledged that the EU’s electricity market “does not work anymore.”

She said it needs to be adapted to the “new realities of dominant renewables”.

It’s a global problem and it doesn’t make EVs look good.

She admitted this week that current measures to address surging energy prices had fallen short of addressing structural issues in the EU electricity market.

“Indeed electricity prices – energy prices – are skyrocketing. And we are doing a lot on it,” von der Leyen said, citing the “toolbox” put forward by the Commission in autumn last year, which allows EU countries to tax the windfall profits made by energy firms and subsidize energy bills for the most vulnerable households and small businesses.

“But we also acknowledge that this is a short-term relief that will not change the structure of the market,” adding that power markets were “designed in a way like it was necessary twenty years ago” when the share of renewables was low.

“Today, the market is completely different. It is the renewables that are the most cost-effective and the cheapest ones,” she explained.

As they destroy oil and gas, we will be left with expensive, though slightly cheaper, energy that won’t work.