Why Electric Cars are Not the Future

Like most everyone else, I want a reduction in fossil fuel use. The electric car was supposed to be the answer. Future events are not predictable so we cannot predict for sure EV will fail. We can, however, look at the current economics and see that unless there is never again an EV explosion EV's cannot succeed.

The link is about economics and tells us we can summarize economics with four words, "Everything has a cost." In the case of gasoline powered versus battery powered we can quickly figure out the costs to the owner. But costs to the owner may include the real or total costs. The total costs must include externalities, costs not born by those driving either kind of car.

The Biden administration correctly took on the external costs of gasoline powered cars. It said, correctly so far as I know, that the carbon they produce is causing climate change. Biden's people concluded, correctly again, the rational solution was to push this external cost back onto those who caused it, we consumers/drivers. Thus, there were subsidies for less polluting electric cars and even resolutions to eliminate gas powered cars by a named date in the future.

But the Biden people did not see a huge cloud above the EV that was just over the horizon.  That cloud was explosions of EV batteries/cars. I use the word "explosions" while others use the word "fires." Fires occur in gasoline cars. These are easily extinguished. EV explosions are many times hotter and are not extinguished. They are allowed to burn for days. They, so far, are impossible to put out and are so hot they set ablaze buildings and vehicles nearby. This damage caused by EV explosions has not been rolled into the costs of all EV owners. At this time it remains an externality paid for by others.

These damages from these explosions can be minimized by always parking EV's outside. When EV's have exploded inside garages they have destroyed both other vehicles and the structures. There has been some loss of life in NYC from exploding EV scooters. 

A method for internalizing this external cost seems to be coming but has not arrived completely. The huge State Farm Insurance Company has office personnel in several states. It announced recently to its employees that no EV's will be allowed inside enclosed State Farm parking structures. All EV's will be required to be parked outside. It did this because the risk of damage would swamp the amount State Farm has set aside to pay for damages from cars/trucks on its own properties.

I have a personal interest in this State Farm decision. I live in a building with parking underneath our condos. There are five EV's parked underneath me as I write this. If one exploded the entire building would be toast. Our insurance is with State Farm. The company now allows these vehicles to park and charge their batteries under me. I am predicting State Farm, and all other property insurers, will require these cars be the parked outside. This required across the U.S. (and world) will kill much of the EV market. The externality of explosion risk will be forced back on owners by requiring convenient outdoor parking.