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Robert Namer
Voice Of America
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June 19, 2024

     A study out of the Texas Public Policy Foundation, which has received contributions from oil giants Exxon and Chevron, finds that the actual hidden costs of fueling an electric vehicle, which some allege equates to $1.21 per gallon of gas, is more like $17 per gallon — all things considered.  It may be a little higher.

     In their paper "Overcharged Expectations: Unmasking the True Costs of Electric Vehicles," the study's authors, Brent Bennett and Jason Isaac, ostensibly argue that while the direct cost of "fueling up" to an EV owner may appear low, the real costs and considerations add up to be significantly more.  

"EV advocates claim that the cost of electricity for EV owners is equal to $1.21 per gallon of gasoline (Edison Electric Institute, 2021)," the authors contend, "but the cost of charging equipment and charging losses, averaged out over 10 years and 120,000 miles, is $1.38 per gallon equivalent on top of that. Adding the costs of the subsidies to the true cost of fueling an EV would equate to an EV owner paying $17.33 per gallon of gasoline."

The paper goes on to assert that the U.S. government uses regulatory standards, mainly Corporate Average Fuel Economy (CAFE) and Greenhouse Gas (GHG) emissions standards, to indirectly finance the growth of EVs. These standards force automakers either to comply, often by selling more EVs, or to buy credits from those who do, adding hidden costs to traditional gas and diesel vehicles. 

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