Dementia Joe was just full of great ideas. For those of you who have $54,000 (average cost of an EV)
President Joe Biden promoted his efforts to lower gas prices on Tuesday, but he reminded Americans they would save more money on gas if they owned electric cars.
“For the hundreds of thousands of folks who bought one of those electric cars, they’re going to save $800 to $1000 in fuel costs this year,” Biden said, referring to the $112,595 electric Hummer pickup he test drove at a General Motors factory in Detroit earlier this month.
The president appeared frustrated that some Americans continue blaming his environmental agenda for higher gas prices, dismissing it as a “myth.”
“My effort to combat climate change is not raising the price of gas, what it’s doing is increasing the availability of jobs,” Biden insisted.
He claimed his government subsidies for green energy and electric cars would only help Americans get jobs and save more money.
Except, they are not subsidies: they are a tax rebate, meaning (most likely, since every article, dealer, etc, will say to talk with your tax professional) that they will just reduce your taxable income. A $7,500 reduction means you’re net taxable income will be, say, $40,000, at which point you go to the schedule to see how much you should have paid in taxes. For 2021 that’s $4606 filing single. And you paid $4607 from your check. You get a dollar back! Well, really, you saved around $1640, based on the difference between filing at $40k vs 47,500. That’s not $7,500, eh?
But, Joe is so divorced from reality that thinks everyone can afford an EV, which, interestingly, is not something he drives. None of the vehicles in his big motorcades are EVs.
— William Teach2 #refuseresist (@WTeach2) November 24, 2021
So, our Energy Secretary is lying about what type of vehicle she drives (she’s gonna have to lease something different, with Volts going bye bye). And she doesn’t know how many barrels of oil the U.S. uses daily. You’d think that would be an important, and relevant, number to know.
Biden announced plans to release 50 million gallons of oil from the Strategic Oil Reserves to help lower prices but cautioned Americans it would take a while to have an effect on gas prices.
“While our combined actions will not solve the problem of high gas prices overnight, it will make a difference,” he said. It will take time, but before long, you should see the price of gas drop where you fill up your tank.”
Biden’s efforts did not immediately have the desired effect on the oil market as prices rose over three percent per barrel on Tuesday morning after his announcement.
Huh. The U.S. used 18.19 million barrels a day in 2020, which was obviously down a bit. 50 million covers us for just over two days.
(ABC News) While the news could bring relief of five to 15 cents per gallon in the coming days and weeks, industry experts told ABC News, they remain skeptical about whether the move will ease longer-term pressures in the oil market and concerned over how oil producers could punitively respond.
“Could”. A small amount which will most likely be very short term. And the oil companies need to repay it.
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