Electric vehicles are 'direct wealth transfer' from owners of gas-powered vehicles to EV owners, experts say
California, Wright said, is likely a"really sad test case" for what the rest of the country could face, where he said it currently costs about $250 an hour to service an EV. The state has made a strong push for EVs under Gov. Gavin Newsom, and Californians will by 2035 not be allowed to buy new gas-powered cars and light trucks.
As a result of these polices, many Californians' utilities have gone up, which Wright said is only going to continue hurting the lower and middle classes the most. "At some point we're going to face this issue of, we don't have the charging infrastructure, we don't have enough electricity overnight, we're going to have to adjust unless we want to crash the global economy," he said.
He also warned that people who are able to charge their EV at a plug-in installed in their home will still likely face high electricity bills. In a neighborhood of 80 homes, where everyone has an EV and all of them are charging at the same time, it would be the equivalent of adding four times as many homes to the neighborhood, likely exceeding the neighborhood's available electrical load.
Critics of EV technology have been shouted down by the green energy industry and"the media ecosystem," Wright said. "I think you're going to continue to see a movement back towards sanity where we just embrace American innovation the technology that we have today that has made us world leaders in clean air," he concluded.