The news that gas prices have increased 7 days in a row is not great for the consumer, although oil companies and governments are now rubbing their hands together. The higher the price the more taxes we have to pay, so not good for drivers in the UK, as they have to pay more fuel duty than most. We are certainly in troubling times and we know that electric vehicles (EVs) are the answer, but practical ones are needed now.
There are a number of reasons why the price of oil has increased, but it is the unrest in certain countries that is to blame at the moment. However, if it is not this it’s something else — it certainly does not take much for investors to get spooked and for shares to increase.
It seems as though we have been dependent on oil for far too long, and we have to wonder why carmakers have taken so long to respond to this. We are going through our planet’s resources at an alarming rate, and this has started to increase since the likes of India has now started to offer much cheaper cars (Tata Nano) to residents in their country.
You may wonder why I say that more Practical EVs are needed now? The reason I say this is because what we currently have on the market are too expensive and also only offer a limited range. The reason why these electric vehicles like the Nissan Leaf cost so much is because there is currently no mass market for them. We know that they will come down in price once we start to buy them more, but this will not happen all the time the price is high — bit of a catch 22.
Have you purchased an EV, if you have not what puts you off most?