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Moreover, many facilities have safely delayed projects and/or maintenance so as to not take production offline and instead continue to provide supplies and build inventories. About half of US refinery shutdowns are conversions to renewable fuel production.
users pay for the construction and maintenance of roads via a federal fueltax. Revenues from the tax go into the federal Highway Trust Fund, which is independent of the General Fund; every five years or so Congress passes an authorization bill to allocate these revenues. States use similar mechanisms. —Huang et al.
Minerals and the materials derived from them are at the heart of energy transition strategies, and emerging markets and developing economies are the overwhelming providers. There are also unanswered questions about how to even finance electrification or road construction and maintenance given lost revenues from fuelstaxes, Foss said.
As sales of electric vehicles begin to reach significant numbers across the US, states are exploring approaches to replace lost tax revenue since EV drivers don’t pay fueltaxes as drivers of gas-powered cars do at gas stations. Unfortunately there is currently no simple and agreed upon best replacement for the fueltax.
With Europe’s gas phase-out plans now within view, the countries there could be set to lose significant funding from fueltaxes in the coming years. Still, the change could have some latent effects, especially as most countries get crucial revenue from taxes on gas.
Since some 36% of diesel is used off-road, such as on farms, by manufacturing, industrial and commercial ventures, and boats, a fueltax for road use would impose an unfair burden onto these sectors, the government says.). In New Zealand, diesel and electric-powered vehicles pay for their road use through road user charges.
A team of transportation and policy experts from the University of California released a report to the California Environmental Protection Agency (CalEPA) outlining policy options to significantly reduce transportation-related fossil fuel demand and emissions. Transportation pricing: Gasoline taxes. Active transportation.
Other product attributes like reliability and safety, strongly influence consumer perceptions, as do employee enthusiasm and the company’s impact on the economy.” In the short term, he believes OEMs need to boost their warranty support for hybrids; there needs to be some kind of a floor on resale value and fuel pricing (i.e.
We then used results from a model of the global economy to allocate a portion of this global budget specifically to the U.S. In the meantime, EV buyers’ sticker shock could be alleviated by the knowledge that fuel and maintenance costs are far lower for EVs and that total ownership costs are about the same. passenger vehicles.
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