Some experts pushing electric vehicles to help cut costs long-term amid rising gas prices
ST. JOSEPH COUNTY, Ind. — President Joe Biden’s latest ban on Russian oil imports could impact prices at the pump even more, but experts said a nationwide shift to electric vehicles could eventually be the solution to cutting costs in the future.
“It’s just another thing I have to worry about and stress about,” said Michiana Resident Kylee Biggs.
“I feel like most people, I’m very upset about it,” added Rich Urda another local resident.
“I think it’s kind of crazy, I just got my first car, I’m 18 and I’m coming to the gas station every hour it feels like,” added local resident John Oshaughness.
Michiana residents are among those across the nation paying those higher prices at the pump because of the fallout from Russia’s invasion on Ukraine.
“Oil is a globally traded commodity, that means that essentially one price for oil that is common for all consumers across the world. So, any disruption in the supply chain for oil no matter where they come from in the world has the potential to affect the price that every consumer pays,” said Nikos Zirogiannis and Assistant Professor of Environmental Economics and Policy at Indiana University in Bloomington.
Zirogiannias said with the price of oil being so easily impacted he believes the U.S. should eventually turn away from relying on it at all.
“The best way for the U.S. to become energy independent is to completely move away from using oil. What does that mean? That means transitioning to a transportation fleet, cars, trucks, heavy duty trucks that run on electricity,” he explained. “Investing in that electric vehicle fleet will allow us to be truly be independent in terms of our reliance on oil.”
Although experts said the U.S. still may be quite a ways away, they believe eventually switching to all electric vehicles could not only cut costs for folks in the long-run but also help clean up the environment.
“Investments at the federal level and state levels, trying to expand the electric vehicle fleet, give people incentives to purchase electric vehicles, expand the network of charging stations. An electrical vehicle fleet would be a very meaning policy in terms of to combating climate change,” added Zirogiannis.
Zirogiannis also said when gas prices do rise the interest in electric vehicles also increases and he added officials need to work on making them more affordable for the average family.
In the meantime, with the U.S. ban on Russian oil imports Zirogiannis believes since oil being is a part of the global market things will eventually shift and lower those prices, but he warns things may get worse before they start to get better.