Liberals' internal combustion ban could cost up to $100 billion

According to Blacklock's Reporter, "zero emission vehicles are expected to generally cost more than non-zero emission vehicles and this vehicle price increase could lead to a reduction in the quantity of vehicles purchased. The magnitude of these consumer welfare losses is difficult to estimate.”

A recent analysis completed by the Federal government, Regulatory Impact Analysis Statement, found that it was first reported Monday morning by the independent news outlet, Blacklock's. 

.@S_Guilbeault electric car mandate is worth at least $99 billion "and will lead to a loss of consumer choice," new @EnvironmentCa records show. Not a typo. $99B. https://t.co/MDieHaMdtg #cdnpoli pic.twitter.com/ljAbdIPrl9

— Blacklock's Reporter (@mindingottawa) January 3, 2023

According to Blacklock's article on the analysis, costs were estimated at:

• $55.8 billion in “total increased electricity costs over the time frame”; 

• $24.5 billion for electric vehicles and home charging; 

• $16 billion in federal subsidies for manufacturers of batteries and electric cars; 

• $1.7 billion in rebates for electric car buyers from 2023 to 2025; 

• $680 million in federal subsidies for commercial fast charging stations; 

• $500 million in Canada Infrastructure Bank financing to build charging stations; 

• $300 million already spent on $5,000 rebates for electric car buyers. 

The $99.4 billion total does not include related expenses like “cost of retraining mechanics,” higher insurance costs for accidents involving electric vehicles that “tend to be heavier due to the weight of batteries on board” and lost profits for “gas stations with attached convenience stores,” wrote staff. 

With the government of Canada's plan to sell only zero-emission vehicles by 2035, Rebel News took to the streets of Calgary, a city dependent on oil and gas to hear people's thoughts on the 'green' revolution.

FULL REPORT by @_angelica_toy: https://t.co/m2hC82kE4D pic.twitter.com/YNK9DRWG5c

— Rebel News (@RebelNewsOnline) September 23, 2022

The federal government has outlawed the sale of internal combustion consumer vehicles by 2035.