With gas prices rising in the country, the US president is promoting his green driving initiative.
Gas is currently above $4 in California and Hawaii. Washington State is at $3.95. AAA says the last time gas was this costly was in 2014, and analysts say the price spikes are likely to continue.
Bidens’ all-electric future plans were announced on Tuesday.
“America can control the future of the auto industry by making more here at home, generating good-paying jobs,” the White House said in a Tuesday brief.
President Biden’s administration aims to invest $7.5 billion on infrastructure, including 500,000 charging stations around the nation. Production is set to begin this summer.
It will be simple to charge electric vehicles everywhere, Biden added. „More employment generating batteries, materials, and components. This will save hundreds of billions of gallons of fuel.”
Only one in every 250 automobiles is electric. Meanwhile, drivers are still dealing with increased gas costs.
Americans are spending an average of $3.46 a gallon, AAA reports. A medium-sized automobile now costs roughly $12 extra to fill.
A shift from energy independence to foreign dependency is cited by some.
“President Biden’s antagonism towards the industry has impacted the oil companies’ willingness for risk,” said Patrick De Haan, a GasBuddy petroleum expert for The National Desk. “He hasn’t shut it down, but he has made it harder to produce oil.”
The US government halted the Keystone XL pipeline from Canada, halting future oil and gas infrastructure growth.
Biden halted new oil and gas leasing on federal lands and seas soon after taking office. A Louisiana court overturned the ruling months later.
De Haan said oil corporations are cautiously hopeful.
In addition to the pandemic’s impact on demand, De Haan believes the president’s measures may be delaying industry growth.
The oil corporations may be more focused on rewarding and motivating shareholders to continue with them through thick and thin than on expansion, De Haan suggests.