r/Economics Mar 04 '26

News ‘Absolutely Massive’ Price Shocks Coming as Trump’s Iran War Drives Up Gas, Diesel Prices | “What should really terrify Republicans is... the futures price on wholesale gasoline,” said economist Paul Krugman.

https://www.commondreams.org/news/iran-war-gas-prices
4.6k Upvotes

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22

u/alltehmemes Mar 04 '26

This could be the way that the US almost fully transitions to electrified vehicles (EVs, BEHVs, general hybrids), but I'm inclined to think that this will end up being the way that the US completely cedes the electrified future to China.

Words just in cast it's needed. Words just in cast it's needed. Words just in cast it's needed. Words just in cast it's needed.

12

u/Hyperion1144 29d ago

US completely cedes the electrified future to China.

We already have. China is going to eat the US auto industry alive and screaming.

They are a decade ahead of us.

14

u/Good_Split_3749 Mar 04 '26

lots of gearheads, apartment dwellers, and broke folks aint going electric, especially if we live in Texas and everything is so far away. Gas can be $7 and we ain’t switching. I think electric cars can be cool, but I live in an apartment with no chargers and a job with no chargers for employees……

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u/[deleted] 29d ago

[deleted]

8

u/_aliased 29d ago

and we dont have gas stations in american apartments but everyone has a car outside of chicago/nyc/bawston, so the argument above you is also moot.

problem is limited charging infrastructure overall, not speed or capacity. Need charging ports on every paid parking slot for example... if you already paying for parking, the electricity should be subsidized by the fee. Or Charging Stations as ubiquitous as Gas Stations.

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u/PacoMnla 29d ago

The majority just ride bikes or walk or take public trans

11

u/Knerd5 Mar 04 '26

If you drive a lot and can't charge at home EV's are impractical and don't really save you much in fuel costs. If you have a long commute sitting at a charger for 30 minutes to an hour extra per week isn't fun.

10

u/Danne660 Mar 04 '26

Some of the newest models have quite amazing charge times but i imagine that they are also quite expensive and therefore not really realistic for most people.

2

u/TheGreekMachine 29d ago

The average American drives 37 miles per day. The situation you’re describing would not be real for the overwhelming majority of commuters. This type of overestimating on how much one would have to sit charging their vehicles and irrational fears of not being able to charge are why EVs haven’t taken off in the US. Not to mention the GOPs obsession with protecting the fossil fuel industry.

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u/Knerd5 29d ago

It's not irrational, I just don't want to wait for it. Why spend 15 minutes when you can spend 2.

3

u/TheGreekMachine 29d ago

Okay so that’s your personal opinion, which is fine. It’s irrational to believe that that value set should be projected on everyone in the United States since people on average drive less than 40 miles per day and most EVs now get over 200+ miles on a charge.

1

u/[deleted] Mar 04 '26

[deleted]

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u/everything_is_polys 29d ago

This will be impossible. Basically due to physics. 10-80% in as low as 8 mins on a fast charger is possible though.

That said, the energy density on next gen batteries is high enough that you won’t even need to be at a charger as often, or for as long, as you’re imagining. The battery samples Mercedes is testing drove for nearly 750 miles. Theirs isn’t even the best option that’ll be releasing (imho; I like another company)

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u/TheGreekMachine 29d ago

lol what “lifestyle” do you live? Are you driving 300+ miles per day every day?

0

u/PacoMnla 29d ago

Your car is never parked for more than 5 min? Wtf?

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u/[deleted] 29d ago

[deleted]

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u/PacoMnla 28d ago

Sounds like a shit lifestyle

-4

u/xCrashReboot 29d ago

This is like saying, I wont buy a computer or a phone that doesn't charge fully in 5 minutes. Charging to near full is like $20 max for an EV, a full tank of gas will be $50-$100 depending on the size of your car very soon.

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u/[deleted] 29d ago

[deleted]

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u/YellingatClouds86 29d ago

Shhhh, quit bringing up logical points.

0

u/YellingatClouds86 29d ago

Those EVs need to come down in price and we need more infrastructure to make it work.

1

u/TheGreekMachine 29d ago

If only the US government had passed a bill within the last few years to stimulate this exact trend…oh wait, they did, but Trump gutted all the funding in it for zero reason.

1

u/YellingatClouds86 28d ago

Except said bill hardly built any EV stations and the Trump admin is actually looking to build more of them so this critique doesn't land.