Ronald Stein: Biden’s Newest Rule on Auto Emissions Set to accelerate the Death Spiral for auto manufacturers

For one of the wealthier countries on this planet, America, with 330 million people⏤ representing about 4% of the world’s 8 billion on this planet, President Biden is speeding ahead with EV mandates to ditch most new gas cars by 2030.

Biden may not be cognizant that 80 percent of the 8 billion on this planet earning less than $10 a day, which is more than 6 billion on this earth, may never be able to enjoy the materialistic living styles of those in wealthier countries, nor ever own an automobile.

In America, the elites have bought EVs, and the elites may continue to buy EVs, BUT we’re quickly running out of elites!

> The average debt in America is almost $60,000 across credit cards, mortgages, auto loans, and student loans.

> The common folk need a workhorse vehicle, not just a second car toy that sits in the garage to be used on short ventures!

> The current EV ownership profiles are reflected in the oligarchic elite, which consists of highly educated, highly compensated, multi-car families with low mileage requirements for the family’s second car.

> Current EV owner profiles are dramatically different from those of most vehicle owners. They are single-car owners, not as highly educated or compensated, and have higher mileage requirements for their workhorse vehicles.

Mandating a change to EV ownership and further austerity on those who can least afford it, the Nation and the other 96% on this planet may face a rebellion from those who need transportation.