Senator Deb Fischer introduced a new bill known as the “Stop Free Electric Vehicles Act,” which aims to impose tariffs on the sale of electric vehicles in the United States. The proposed legislation would impose a $1,000 fee on electric cars at the time of sale, as well as an additional $550 fee on heavy-duty batteries. The purpose of these fees is to replace the lost revenue from fuel taxes that would have contributed to internal combustion vehicles.
Senator Fischer argued that it would be unfair to make drivers of non-electric vehicles bear the financial burden of those who choose to drive electric vehicles. The bill received support from Senators Pete Ricketts, John Cornyn and Cynthia Lummis.
This proposal comes as federal and state officials explore alternative revenue sources to offset highway trust funding shortfalls. Some of the options considered include the establishment of tolls, the implementation of fees at charging stations for electric vehicles and the introduction of a tax on kilometers traveled.
In another development, the price of oil increased by $20 per barrel since June. However, Goldman Sachs analysts believe that this price increase will not affect US consumer spending or GDP growth. The bank said that the increase in the price of oil is relatively small compared to previous years and that the low price of electricity will partially offset any negative impact. Additionally, the Federal Reserve is unlikely to tighten policy in response to higher rates.
Meanwhile, President Joe Biden and former President Donald Trump are scheduled to visit Detroit this week as they seek to build support from union-affiliated voters ahead of the 2024 presidential election.
In the field of energy geopolitics, the heads of Russian energy companies Gazprom and Rosneft will accompany President Vladimir Putin on his trip to China in October. This visit comes as Moscow and Beijing are negotiating the construction of the Power of Siberia-2 natural gas pipeline.
In Europe, the European Union’s top energy official, Ditte Juul Jørgensen, said the bloc would remain dependent on US fossil fuels as it seeks to diversify away from Russian natural gas and expand its energy sector. renewable energy. Despite concerns from environmental groups and politicians about the impact of climate goals, Jørgensen emphasized the need for US energy in the European Union’s energy mix in the coming decades.
In the end, the leaders of the European Union agreed to adopt a modified version of the proposed plan for car emissions in the bloc. The plan, known as “Euro 7”, faces opposition from eight member countries who fear the proposed regulations will drive away investment from the electric vehicle industry. Italy, the Czech Republic, France and five other countries are pushing for weaker rules to protect the development and investment in electric vehicles.