![](\"https:\/\/247wallst.com\/wp-content\/uploads\/2023\/08\/AEG2q-2023-barchart-fuelingcost-1.jpg?w=645\")
Source: Anderson Economic Group<\/span>Interestingly, charging a luxury EV or an electric pickup at a home charger are the only cases in which an EV turns out to be equal or less expensive than an ICE vehicle.<\/p>\nAccording to Google Bard, a UK-based research firm, Frontier Economics, did a study in 2013 to estimate the total cost of gasoline externalities in the United States. The firm estimated an annual cost of between $231.7 and $942.9 billion to pay for \u201cair pollution, climate change, traffic congestion, accidents, and road maintenance.\u201d Here is the session:<\/p>\n
\nPrompt: estimate the cost of externalities to the price of gasoline. externalities include cleaning up emissions, maintaining roads.<\/p>\n
Bard response:<\/p>\n
The cost of externalities to the price of gasoline is difficult to estimate accurately, as there are many factors to consider. However, a 2013 study by the Frontier Economics consultancy estimated that the total cost of gasoline externalities in the United States was between $231.7 and $942.9 billion per year. This includes the costs of air pollution, climate change, traffic congestion, accidents, and road maintenance.<\/p>\n
The study found that the largest cost of gasoline externalities was air pollution, which was estimated to be between $100 and $500 billion per year. This includes the costs of health care, lost productivity, and property damage. The second-largest cost was climate change, which was estimated to be between $60 and $300 billion per year. This includes the costs of sea level rise, extreme weather events, and agricultural losses.<\/p>\n
The study also found that the costs of traffic congestion, accidents, and road maintenance were relatively small, but still significant. Traffic congestion was estimated to cost between $20 and $80 billion per year, accidents were estimated to cost between $10 and $40 billion per year, and road maintenance was estimated to cost between $5 and $20 billion per year.<\/p>\n
It is important to note that these estimates are just that \u2013 estimates. The actual cost of gasoline externalities could be higher or lower, depending on a variety of factors, such as the specific methods used to estimate the costs and the assumptions made about future trends.<\/p>\n
However, even the lower estimates of the cost of gasoline externalities are significant. They suggest that the price of gasoline does not reflect the full cost of its use. This means that consumers are not paying the true cost of gasoline, and that the government is subsidizing the use of gasoline through tax breaks and other policies.<\/p>\n
One way to address this problem would be to internalize the costs of gasoline externalities. This could be done by raising gasoline taxes, using congestion pricing, or investing in public transportation. These measures would make gasoline more expensive, but they would also help to reduce the environmental and social costs of gasoline use.<\/p>\n<\/blockquote>\n
The Anderson chart includes gasoline taxes in the price but breaks out the cost of comparable EV taxes. It does not include the avoided costs of ICE vehicle externalities that all of us pay in one way or another and have paid for decades.<\/p>\n
Adding externalities to the cost of an ICE fill-up changes things.<\/p>\n
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