American Oil and Gas Reporter - October 2024 - 44

Election2024: Industry Analysis
A 2023 Bloomberg article suggested that EVs had
hit a fundamental tipping point, and that " Teslas
have gone from being the car of the uber rich to the
car of the Uber driver. " It was a well-turned phrase,
but one could also read it to suggest that a mass
market for EVs isn't here yet. When it comes to
vehicle miles traveled, Uber drivers may be the onepercenters
in utilization terms, because they drive
enough to offset the higher fixed costs of EVs with
the lower variable costs of electric fueling. The rest
of us use our cars about 5% of the time.
Nor do lower-cost EVs from overseas seem likely
in the current political and geopolitical environment.
The Biden administration recently increased trade
barriers to EV imports from China. On Sept. 13, the
Office of the U.S. Trade Representative announced
final tariff adjustments under Section 301 of the 1974
Trade Act. Effective Sept. 27, duties on Chinese EVs
rose from 25% to 100%, and duties on lithium-ion
EV batteries and nonlithium-ion battery parts increased
from 7.5% to 25%. We would not expect Harris to
rescind those hikes, or newly proposed nontariff
barriers (e.g., software-related constraints).
very bad news for consumers. Under a potential
Harris administration, total new vehicle sales will
decline dramatically, harming auto suppliers, dealers,
consumers and the overall economy.
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American Oil and Gas Reporter - October 2024

Table of Contents for the Digital Edition of American Oil and Gas Reporter - October 2024

Contents
American Oil and Gas Reporter - October 2024 - Intro
American Oil and Gas Reporter - October 2024 - Cover1
American Oil and Gas Reporter - October 2024 - Cover2
American Oil and Gas Reporter - October 2024 - 3
American Oil and Gas Reporter - October 2024 - 4
American Oil and Gas Reporter - October 2024 - Contents
American Oil and Gas Reporter - October 2024 - 6
American Oil and Gas Reporter - October 2024 - 7
American Oil and Gas Reporter - October 2024 - 8
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American Oil and Gas Reporter - October 2024 - Cover3
American Oil and Gas Reporter - October 2024 - Cover4
https://www.nxtbook.com/nxtbooks/aogr/202411
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