Excerpts:
* It seems like all the smart people have made up their minds that the
future of automobiles belongs to electric vehicles.
* In August 2022, California, by regulation, adopted a ban on
gasoline-powered cars by 2035; and in September 2022, New York
promptly followed with its own ban, also by regulation, and also set
for 2035. And at the federal level, in 2021 the Biden Administration
ordered that all agencies move toward 100% procurement of electric
vehicles, also by 2035. Meanwhile, by means of a thicket of
regulations — from vehicle mileage standards to pollution caps and
more — the administration overtly seeks to force manufacturers to
convert their lineups to EVs as fast as possible.
* So, are electric vehicles about to sweep the country and become the
dominant form of transportation? I bet against it. This is just a
specific instance of the general principle that it is always wise to
bet against central planning of the economy.
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