Valuetainment - July 11, 2022


Will Electric Cars Save The Planet？ Or Is It Just Propaganda？


Episode Stats

Length

14 minutes

Words per Minute

191.45651

Word Count

2,728

Sentence Count

157

Hate Speech Sentences

2


Summary


Transcript

00:00:00.200 Is it just me or does it feel like the only way you and I can save the world from climate
00:00:03.520 change or global warming is by owning a Tesla or an electric vehicle?
00:00:08.520 As if we drive gas or diesel, the world is coming to an end.
00:00:12.000 Matter of fact, we just recently saw President Biden talk about the fact that by 2030, 50%
00:00:17.440 of all cars need to be EVs, and even Newsom talked about the fact that by 2035, 100% of
00:00:23.160 the cars need to be EVs.
00:00:24.840 But the story's deeper than that.
00:00:26.080 The more we researched, the more bizarre it got with China, with Congo, with cobalt,
00:00:32.180 with lithium, with child labor.
00:00:34.640 Very bizarre, but we're going to get right into it in today's episode.
00:00:46.440 So stick around to get the PDF of what we're talking about today, but there's a few questions
00:00:50.800 that we have to answer.
00:00:51.800 Number one, the argument for having EVs, and the argument against it.
00:00:56.400 Number two, which industry will benefit the most from EVs?
00:01:00.720 Number three, who is hurt by EVs?
00:01:02.900 Number four, are EVs, the new diesel scandal waiting to happen, and then some final thoughts
00:01:08.200 on today's discussion.
00:01:09.480 So first things first, there's a lot of good motives here.
00:01:11.820 People are concerned, younger generation, climate change, global warming, but is it really
00:01:15.400 worth it?
00:01:16.400 Here's why.
00:01:17.400 Because when we look at the total US greenhouse gas emissions by economic sector in 2020,
00:01:22.420 this is what it looks like.
00:01:23.620 29% is caused by transportation, 25% is electricity, 24% is industry, which is raw material we all
00:01:30.960 use, 13% is commercial and residential, 11% is agriculture, but this is the key.
00:01:36.480 Today's focus is transportation, and out of the 29%, only 16.82% of it is cars.
00:01:43.200 So the question becomes, is this 16.82%, the cars, everything, let's change everything
00:01:47.420 up, 2030, 2035, is that worth the shift that we're making today?
00:01:52.060 To fully understand that, we have to look at some numbers.
00:01:54.640 Here's some numbers to look at in regards to total cars sold in Q4 of 2021.
00:02:00.300 In Q4 of 2021, we sold a little over 3.3 million cars in the US, of which only 152,000
00:02:06.880 were diesel, 353,000 were EV, and then the rest, which is about 2.761 million, are just
00:02:13.200 regular gasoline cars.
00:02:15.260 And by the way, for some of you, just to show you how new this is, we've only been selling
00:02:19.380 EVs roughly since 2010.
00:02:21.740 Tesla, who is the main leader in this market, has only sold 1.917,450,000 cars.
00:02:29.700 And FYI, since 2016 to the first half of 2021, they've sold roughly a third of all EVs in
00:02:35.580 America.
00:02:36.580 Okay, so now that we saw some of those numbers, let's look at the argument between having an
00:02:39.780 EV versus not having one.
00:02:41.840 So price-wise, if you want to buy an EV today, the average EV today is roughly $56,437 versus
00:02:48.900 the average gasoline car is $47,077, according to Kelley Blue Book.
00:02:55.980 So if you look at the numbers right there, it's only a $10,000 difference.
00:02:58.720 But if you do buy an EV, you get a $7,500 tax credit on the back end from the government.
00:03:03.020 So maybe it's not upfront, but you are getting it on the back end.
00:03:05.720 Now let's take a look at miles.
00:03:07.480 When it comes onto miles, let's compare two cars.
00:03:09.880 I drive an F-150.
00:03:12.140 So let's look at the F-150, that's gas, versus the F-150, that's EV, which is called the Lightning.
00:03:18.540 So if we were to look at the regular F-150, it would cost you $99.31 to fill up the gas
00:03:24.780 tank.
00:03:25.780 That's at an average of $4.32.
00:03:28.040 But if you had the Lightning, it would only cost you $13.48 to charge the battery.
00:03:33.700 So what does that number break down to?
00:03:34.960 Here's what it looks like.
00:03:35.960 On the F-150, the regular one, it comes down to $0.20 a mile, versus the Lightning, it comes
00:03:43.000 down to $0.06 a mile.
00:03:45.220 That's a big savings, nearly a third of the cost for regular gas.
00:03:49.100 Now a few things.
00:03:50.100 If you're on the EV, you have no emissions, no gas, less maintenance.
00:03:53.400 Of course you're going to have to change the tires and the basic things, but when it comes
00:03:56.620 down to the EV, they can pretty much update on their own.
00:03:59.320 You know, software updates are going to happen regularly.
00:04:01.300 You don't need to do an oil change.
00:04:02.460 You don't need to do all the other stuff that you go to a mechanic for.
00:04:06.580 You don't have that with the EV, which saves you a lot of time.
00:04:09.640 So now, so far you may say, oh my God, Pat, you already sold me.
00:04:11.720 I'm going to go buy an EV tomorrow.
00:04:12.720 I'm buying a Tesla tomorrow.
00:04:13.720 Matter of fact, I'm going online to order a Tesla.
00:04:15.580 Before you do, hang tight, hear the entire argument.
00:04:19.360 The complete opposite side says the following.
00:04:21.700 Number one, if you have a car that's a regular car going off of gas, you can find gas stations
00:04:27.060 pretty much everywhere.
00:04:27.460 Now, if you drive an EV and you go on a road trip, good luck finding a charging station,
00:04:32.080 because that's spotty at best.
00:04:33.640 And on top of it, many of them that you may find, maybe not even working.
00:04:37.380 One of the questions we asked on Twitter, we said, what's your biggest argument against
00:04:41.020 EV?
00:04:42.140 One guy commented and said, I am an EV owner.
00:04:44.580 I drive my car, but half the charging stations are broken and it's frustrating for an owner.
00:04:50.640 Next, when it comes down to Tesla, the makeup of a typical Tesla owner is a six-figure earner
00:04:56.840 who's making money, who can afford to finance a $57,000 car with tax and everything included.
00:05:03.320 Even though you're getting the $7,500 on the back end, don't forget, you need to finance
00:05:06.220 the whole thing up front.
00:05:07.700 So you need to make money to be able to buy an EV like a Tesla.
00:05:11.060 So at this point in the game, you may say, Pat, you still haven't changed my mind, I'm
00:05:13.460 still getting an EV and I'm sticking to it.
00:05:15.120 No problem.
00:05:16.120 There's two things you need to know about.
00:05:17.220 The current EVs that they're producing, you need lithium and you need cobalt, okay, to
00:05:22.000 produce the EVs that they're producing.
00:05:24.460 Now what's the big deal about lithium?
00:05:26.540 Let me explain to you.
00:05:27.880 Over a single year, producing 60 tons of lithium at the site could mean digging up as much as
00:05:32.840 20 to 30 million tons of earth.
00:05:35.720 Yes, earth.
00:05:36.720 Like, if you look at the picture right there, that's earth.
00:05:38.500 You see that big hole?
00:05:39.940 We need to do that to get 60 tons of lithium.
00:05:42.920 More than the annual amount of earth dug up to produce all coal output of all but seven
00:05:49.180 or eight U.S. states.
00:05:51.420 That's pretty insane to think about.
00:05:53.480 Hauling the material, wait for this one, will require 75 tractor trailers loads a day.
00:06:00.040 Every one of them running on, ready, fossil fuels.
00:06:04.160 And this doesn't include the excavators, the diggers, any of that other stuff.
00:06:08.200 And it doesn't include the transportation of the employees going there, I'm just giving
00:06:11.500 you the basics of lithium here.
00:06:14.260 Now let's take a look at cobalt.
00:06:15.820 When it comes down to cobalt reserves, we have roughly 7.6 million worldwide, of which
00:06:21.740 you have countries like U.S. have 69,000, China 80,000, Madagascar 100,000, Canada 220,
00:06:27.580 Russia 250, Philippines 260, Cuba 500,000, Indonesia 600,000, Australia 1.4 million, you ready?
00:06:35.820 In the Democratic Republic of Congo, 3.5 million tons of reserves of cobalt, which by the way,
00:06:44.000 15 out of the 19 mines in Congo are owned and operated by China.
00:06:51.200 Let me say that one more time, 15 out of 19 are owned and operated by China.
00:06:56.400 Which by the way, they bought this land in Africa nearly two decades ago, which is a massive
00:07:00.800 bet that they took thinking one day this year.
00:07:03.420 A lot of people say, oh, this is such a visionary, this guy's such a visionary.
00:07:07.300 Two decades ago is 2002, 2002 ain't nobody driving Teslas.
00:07:12.720 But in 2002, they kind of said, we may be going in this direction, that cobalt.
00:07:16.420 Nobody looks at cobalt and looks at it as anything.
00:07:18.420 You've seen ceramics of cobalt, but you don't wake up one morning and say, we need to go buy
00:07:22.360 cobalt.
00:07:23.360 Right?
00:07:24.360 That's what they did.
00:07:25.360 15 out of 19, which if you were to look at the DNA of China and you were to say, what would
00:07:29.280 their motive be, maybe they're thinking about not selling the cobalt to others.
00:07:34.840 Maybe they're thinking about producing the cars that need cobalt, because the world has
00:07:40.520 to buy the cars from them.
00:07:42.840 It's a form of a monopoly, isn't it?
00:07:44.780 If we go in that direction, got to give them credit for making a decision like that.
00:07:49.160 But at the end of the day, that in itself could lead to something where other countries
00:07:54.280 are relying on China to get cobalt from them, just like the world has been relying on China
00:07:59.380 to get chips and many other products that we felt during COVID.
00:08:03.800 According to human rights organization Amnesty International, the growth has put pressure
00:08:07.740 on miners in the DRC to ramp up production, leading in turn to tens of thousands of children
00:08:14.420 being lured or forced into grueling and dangerous mine work.
00:08:18.560 You know, sometimes when we're trying to solve a problem, you're like, well, yeah, we have
00:08:21.560 to do this because we've got to get away from fossil fuel, and then when you really look
00:08:24.980 it up and you put the map together, you're like, wait a minute, to get to where we want
00:08:27.780 to get to, we have to make some kind of sacrifices.
00:08:30.740 So no, let's not do fossil fuel because God forbid global warming and, you know, everything
00:08:34.700 climate change that we're going through, but yeah, let's do lithium and take 20 to 30 million
00:08:38.240 tons and dig up from the earth.
00:08:40.760 That's pretty bad if we keep doing that.
00:08:42.240 Yeah, how about we go get cobalt and we get through China 15 to 19 mines they own and 50% plus
00:08:50.800 of it isn't there.
00:08:52.100 So we have to go through Congo and they've got a monopoly, and we've got to get away from
00:08:55.900 cobalt, but we've still got to do it, but how about the child labor, oh my God, so what
00:09:01.920 do we, so should we go this direction or not?
00:09:04.380 It's a very conflicted, bizarre decision processing that we're going through, so there's not really
00:09:10.200 a, we're making the right decision, we're not making the right decision.
00:09:13.180 It's very complex, but let me continue.
00:09:15.380 So the next question is, which industries will benefit from EVs?
00:09:18.540 So the first one is battery manufacturers, obviously this is going to be very big for
00:09:21.520 them because if this is the direction that we're going to, companies that develop batteries
00:09:25.220 for EVs are set to see huge upturn in adoption of these vehicles worldwide.
00:09:30.180 Matter of fact, if the sale of EVs continue at the anticipated rate, a study suggests a total
00:09:36.060 of $60 billion worth of batteries will need to be produced to cater to this demand.
00:09:40.700 So that's one industry that's going to take a massive, massive profit from this direction
00:09:45.340 that we go to.
00:09:46.340 Number two is EV manufacturers, which is pretty obvious.
00:09:48.880 You got Tesla and anybody else that's producing EVs, they're going to see, this is why Tesla's
00:09:54.400 valued at nearly a trillion dollars, and they've only sold 1.9 million cars.
00:09:58.400 That's pretty insane to see numbers like that.
00:10:01.060 And then you have transport, you know, whether it's transport, public transportation, they're
00:10:04.900 going to have to convert to that because it's less maintenance, less headache.
00:10:07.960 Of course, the cost of getting it up front is going to be more, but it's going to be less
00:10:10.980 headache and, you know, maintenance on the back end, and last but not least, is utility
00:10:15.980 providers.
00:10:16.980 As more drivers opt to install an EV charging point at home, their energy usage will inevitably
00:10:22.620 increase.
00:10:23.620 In fact, predictions suggest that the average household energy consumption will double with
00:10:27.580 the installation of an EV charging point.
00:10:30.760 So the next question is, who will be hurt by EVs?
00:10:33.920 Many will say big oil, however, even if electric vehicles come to entirely dominate the transportation
00:10:39.580 space, ExxonMobil is expecting little change in global oil use.
00:10:45.540 The oil major predicts that oil use for transportation will decline slowly, but overall, oil demand will
00:10:51.300 continue to rise as crude as needed for industry and petrochemicals.
00:10:56.460 Here's what a spokesperson from ExxonMobil said, if every car sold in 2025 was an EV, leading
00:11:02.400 to every single passenger vehicle in the world being an EV, by 2040, the global demand for oil
00:11:08.760 and gas would be the same as it was in 2010.
00:11:12.800 They won't even feel it.
00:11:14.120 But who will feel it is going to be that small little business owner that owns that gas station
00:11:18.540 in the corner.
00:11:19.540 You know who I'm talking about.
00:11:20.540 You go to Mobil, Exxon, whoever it is.
00:11:22.760 Not Exxon, but some of those guys that own that franchise, they will feel it because that's
00:11:26.480 eventually going to go away.
00:11:27.880 So for those of you that drive diesel, you may want to skip this next part because the decision
00:11:31.900 you made to get diesel, this may offend you.
00:11:34.160 So brace for impact.
00:11:35.660 Are Electric Vehicles The New Diesel Scandal Waiting to Happen?
00:11:39.880 So Bjorn Lomberg, the author of False Alarm, wrote an article for Daily Mail which was
00:11:43.760 titled, Are Electric Cars The New Diesel Scandal Waiting to Happen?
00:11:48.520 He says, do you remember Britain's dash for diesel?
00:11:51.220 It began more than 20 years ago when then Chancellor Gordon Brown announced a new car tax system
00:11:55.420 favoring vehicles with lower emissions of carbon dioxide, the greenhouse gas that contributes
00:11:59.880 to global warming.
00:12:01.420 Diesel cars tend to be more fuel efficient with lower emissions and Mr. Brown held them
00:12:05.640 as a greener and cheaper option.
00:12:07.500 Over a decade and a half, the number of such vehicles on British roads quadrupled.
00:12:12.660 What happened?
00:12:13.980 What didn't emerge until much later, although it was no secret in the motor industry or
00:12:18.300 among government officials, was that diesel cars also emitted greater quantities of other
00:12:23.700 pollutants, nitrogen oxide, and particulates that damage air quality and human health.
00:12:29.520 Such particulates, which have been linked to respiratory problems, heart disease and lung
00:12:32.740 cancer, have been responsible for thousands of premature deaths.
00:12:36.780 Britain wasn't alone, of course, in their desire to be seen as ever greener governments of richer
00:12:41.020 countries were all pursuing the same policies on car tax or cutting duty on diesel fuel.
00:12:47.480 So what's the moral of the story?
00:12:48.740 None of us know if this thing's going to work or not.
00:12:51.540 Nobody knows.
00:12:52.540 Diesel, they took a big bet in Britain, 20 years later they realized maybe it wasn't the
00:12:56.080 right bet that we took, it didn't work, it backfired.
00:12:59.060 If U.S., their cars is only 4.6% diesel, 50% of cars in Europe is diesel.
00:13:05.320 Let me say that one more time, 10 times more than U.S. cars.
00:13:08.640 In Europe, one out of every two cars is diesel.
00:13:11.060 They all bet on this diesel thing, it didn't work for them.
00:13:14.280 Watch what someone said about the direction we're going with EVs.
00:13:19.120 The International Energy Agency, IEA, estimates that if every nation achieves its ambitious
00:13:25.500 targets on increasing electric car ownership, it will reduce CO2 emissions in this decade
00:13:31.740 by 235 million tons, which means what?
00:13:35.560 According to the UN Climate Panel Standard Model, we'll reduce a global temperature by
00:13:40.940 110,000 of a degree Celsius.
00:13:45.320 That's .0001 Celsius by the end of the century.
00:13:53.600 So is it really worth it?
00:13:55.440 So I'm curious, if you want to see more content like this, give us a thumbs up and subscribe
00:13:59.000 to the channel.
00:14:00.000 If you do want to get today's content in a PDF, click over here to get the PDF.
00:14:04.440 And if you want to see another video similar to this, I did a video titled Climate Change,
00:14:09.160 Myth or Reality, if you haven't watched it, click over here to watch that video.
00:14:12.920 Take care, everybody.
00:14:13.920 Bye-bye.