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President Biden will sign an Executive Order that sets an aggressive new target to make half of all new vehicles sold in 2030 zero-emissions vehicles, including battery electric, plug-in hybrid electric, or fuel cell electric vehicles, the White House said this morning. The Executive Order also starts the development of long-term fuel efficiency and emissions standards to save consumers money, cut pollution, boost public health, advance environmental justice, and tackle the climate crisis.
The weak points in the plan is allowing for hybrids, and worse plug-in hybrids, which have laughable range running as an EV. However this is a politically needed SOP for most automakers that have been slow to embrace pure EVS. This is industrial policy on a grand scale that proponents argue is needed to survive in the global economy. Less than 4% new vehicles sold in the U.S. during June were electric or plug-in hybrids. This puts the Republicans in a tough spot. Helping Big Business – in effect tax cuts for the rich – is their highly selective policy. But creating middle class jobs while acknowledging Global Warming and setting policy that benefits all of “we the people” is counter to their failed attempts at governing for the selective few.
US Trade Deficit in Goods and Services Increases to $75.7B
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The US international trade deficit in goods and services increased to $75.7 billion in June from $71.0 billion in May (revised) because imports increased more than exports. This was the highest on record. However, the June exports of goods ($145.9 billion) were also the highest on record. Continue reading →