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Norway to hit 100% electric vehicle sales by early next year

drive.com.au

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Re: Norway to hit 100% electric vehicle sales by early next year

#111

Post by ars »

r00fus wrote: post #64
thomasfl wrote: post #23

Earlier quoted context omitted.

As a Norwegian I totally agree with you. It is not just unethical, but stupid to invest so much in searching for new old fields. When demand for oil drops, Norway could have a Kodak moment.

Norway has a sovereign wealth fund (valuation: 1.4T in USD) that is setup specifically for this eventuality. Many large oil exporting countries know the good times won't last, and are planning for it.

> Norway has a sovereign wealth fund (valuation: 1.4T in USD) that is setup specifically for this eventuality.

That's not much - $25K per person over 10 years, and with an average income of $70K per person, and something like half of their economy is energy (most if not all social programs are funded from energy production).

If oil were to stop tomorrow, they'd have around 10 years before the money runs out. (Maybe a bit longer since kids don't earn money.) And if they have to replace all the social funding, they'd have even less time.

Norway is relying on slow reduction in demand, and time to transition their economy. Will they have it? It's far from certain. I feel like Norwegians rely too much on this fund to save themselves, rather than transitioning away from oil now.

Re: Norway to hit 100% electric vehicle sales by early next year

#112

Post by ars »

bellyfullofbac wrote: post #57
magicalhippo wrote: post #50

Earlier quoted context omitted.

> How large is the Oil Fund these days They got a "live" counter here[1], so yeah around 1.3 trillion USD give or take. Estimates for corona spending is around 80 billion USD[2]. [1]: https://www.nbim.no/en/ [2]: https://www.nettavisen.no/okonomi/regjeringen-advarer-oljefo...

Geezus, must be nice to have that kind of rainy day fund. Grossly over-simplifed: "Shut down the economy? Oh well, here's 80 billion dollars to keep everyone fed and warm."

For a few years. But divide that fund by the population and it suddenly doesn't seem as much.

Human capital is far more valuable, but most of the industrial knowledge of Norway is in energy production.

Re: Norway to hit 100% electric vehicle sales by early next year

#113

Post by neutronicus »

mikewave wrote: post #72
tkbeili wrote: post #29

Earlier quoted context omitted.

Very interesting. In Canada, it will take years to recoup the price difference for buying an electric car even with government incentives. 25% VAT + Extra tax seems to work.

That's mostly because of the lack of midmarket cars. I bought a used sub-$20k electrical car a few months ago; it can be done. The market needs pressure to create cars in that price range; right now EVs are mostly luxury cars. Tesla is not the car we should be aiming for; what we need are things in the class of the E-Golf, Kia Niro, FFE, Fiat 500E etc. that are the size of a Corolla and cost 20k CAD or less. Until th…

You also need to make it realistic for people to own EVs without also owning a single-family home. My wife and I probably would have bought a PHEV, but we lived in an apartment so ... we went Hybrid instead.

As it is the EV subsidies are really just helping homeowners buy luxury cars which seems a little backwards

Re: Norway to hit 100% electric vehicle sales by early next year

#114

Post by SomeCallMeTim »

njovin wrote: post #97
ostenning wrote: post #83

Earlier quoted context omitted.

Meanwhile in Australia: electric cars are getting taxed more to support the aging oil infrastructure

Similar in California and other states. The states typically tax gasoline and since electrics don't use any they are implementing special fees on electric vehicle purchases to make up for lost revenue. One would think that the savings in pollution (not only for the car itself, but the transport of the fuel, pollution from refineries, etc.) would offset any lost revenue from gas taxes. What makes this really nonsensic…

In Colorado at least it's not that high. $50 plus a small amount (today) that goes up over time to no more than $96 in the 2031-2032 fiscal year.

It's CERTAINLY a lot less than you'd be paying in gas tax if you used your car an average amount.

Taxes aren't punishment, anyway. Especially "road use taxes", which are, in this case, used to repair the roads you're driving on.

[1] https://afdc.energy.gov/laws/11486

Re: Norway to hit 100% electric vehicle sales by early next year

#115

Post by albertop »

paultnylund wrote: post #107
mfer wrote: post #86

Earlier quoted context omitted.

How is Norway handling the increased use of the electric grid? I ask because Elon noted the US power grid needed to double output to handle a full is transition

Last I heard, they actually have so much excess power that they're selling it to the UK.

Do you know how they are generating electricity?

Re: Norway to hit 100% electric vehicle sales by early next year

#116

Post by xyproto »

paultnylund wrote: post #107
mfer wrote: post #86

Earlier quoted context omitted.

How is Norway handling the increased use of the electric grid? I ask because Elon noted the US power grid needed to double output to handle a full is transition

Last I heard, they actually have so much excess power that they're selling it to the UK.

Yes, and the electricity trade may contribute to higher prices for local consumers.

Re: Norway to hit 100% electric vehicle sales by early next year

#118

Post by sdenton4 »

albertop wrote: post #115
paultnylund wrote: post #107

Earlier quoted context omitted.

Last I heard, they actually have so much excess power that they're selling it to the UK.

Do you know how they are generating electricity?

Lots of water in them fjords:

https://www.statista.com/statistics/1025497/distribution-of-...

93 percent hydro, 4 percent wind, 2.5 percent thermal.

Re: Norway to hit 100% electric vehicle sales by early next year

#119

Post by sdenton4 »

fdr wrote: post #108
njovin wrote: post #97

Earlier quoted context omitted.

Similar in California and other states. The states typically tax gasoline and since electrics don't use any they are implementing special fees on electric vehicle purchases to make up for lost revenue. One would think that the savings in pollution (not only for the car itself, but the transport of the fuel, pollution from refineries, etc.) would offset any lost revenue from gas taxes. What makes this really nonsensic…

EVs still drive on roads.

Roads? Where were going we don't need... Well, ok, I guess the future didn't work out that way after all.

Re: Norway to hit 100% electric vehicle sales by early next year

#120

Post by xyproto »

albertop wrote: post #115
paultnylund wrote: post #107

Earlier quoted context omitted.

Last I heard, they actually have so much excess power that they're selling it to the UK.

Do you know how they are generating electricity?

Mostly hydroelectric. 98% renewable energy sources.

https://en.m.wikipedia.org/wiki/Electricity_sector_in_Norway

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