The Agricultural Retailers Association (ARA) has released a study on the impacts of increased electric vehicle penetration on U.S. biofuels, agriculture and the economy. Proposals to ban internal combustion engine vehicles by 2035 and 2050 served as the economic models for the study, along with a base case provided by the U.S. Energy Information Administration’s Annual Energy Outlook.
The study found that economic losses throughout the biofuels value chain range from $105 billion to $185 billion, and cumulative federal, state, and local tax revenues losses range from $39 billion to $69 billion through 2050.
Richard Gupton, ARA Senior Vice President Public Policy & Counsel, talks about the study in this interview.
ARA gas car ban study (4:21)