Washington: A new research revealed that electric cars hold a greater promise for reducing emissions and lowering U.S. oil imports than a national renewable portfolio standard.
Rice University``s Baker Institute for Public Policy found "the single most effective way to reduce U.S. oil demand and foreign imports would be an aggressive campaign to launch electric vehicles into the automotive fleet."
Mandating that 30 percent of all vehicles be electric by 2050 would both reduce U.S. oil use by 2.5 million barrels a day and also cut emissions by 7 percent – compared to national renewable portfolio standard (RPS) which would cut them by only 4 percent over the same time.
The analysis also indicated that "business-as-usual market-related trends might propel the United States toward greater oil and natural gas self-sufficiency over the next 20 years.”
On the other hand, implementing carbon caps and pricing or a high carbon tax could lead to a significant increase in U.S. reliance on oil imports between now and 2025 and would also increase U.S. dependence on imports of foreign liquefied natural gas (LNG) by 2025.
Under a business-as-usual approach, the United States won``t have to import any LNG for decades. And the growth of natural gas will help the environment by lowering the demand for coal.