In 1909, a new research paper tells us, cars were very much a luxury good, even in the United States. The average car cost roughly $3,000 at a time when per capita income was $317 and average annual wages in manufacturing $518 (all figures in US$). A manufacturing worker “would have to work for almost six years while consuming nothing in order to afford the average car,” write the paper’s economist-authors, Shari Eli from the University of Toronto and Joshua K. Hausman and Paul W. Rhode from the University of Michigan.
How can an article like this fail to mention that the transition from ICE to EV’s will require a huge investment in infrastructure that is likely to fall far short of requirements, especially in Canada, the country of the Sacred Cash Enviro-Review Payout Machine?
Besides electricity demand just where are those necessary rare earths expected to come from and at what cost? One day the Congo is gonna run out of kids.
