Some commentators argue that due to the rapid rise in shale production, reliance on petroleum is not a national economic and security threat. But oil dependence remains a strategic vulnerability for U.S. consumers and businesses.
U.S. gasoline and other motor fuels spending increased throughout 2017, reflective of rising prices and continued high demand.
Given the costs of oil dependence, maintaining and reforming the EV tax credit is of strategic importance to the U.S. The tax credit has been vital in helping EVs gain traction in today’s competitive car market.
Petroleum has become a crucial tension point in the United States’ attempt to scale back North Korea’s nuclear ambitions.
December 2016 EV sales surpassed the previous monthly record set in September by an enormous 44 percent.