Could Electric Vehicles Be The Solution To Surging Gas Prices?

As gas prices rise across the country from U.S. President Joe Biden’s decision to ban Russian oil amid the continued war and invasion of Ukraine, some believe that turning to electric vehicles is now the solution.

During California Governor Gavin Newsom’s (D) State of the State address on Tuesday, he mentioned that while trying to combat rising oil and gas prices is imperative, it is also important “to be fighting polluters, not bolstering them.”

He turned to California’s “dominance in electric vehicle sales and manufacturing” as being a leader in clean technology. “Clean energy is this generation’s greatest economic opportunity,” he said.

“We have the technology to transition to a zero-emission fleet,” Vice President Kamala Harris said at an event alongside Transportation Secretary Pete Buttigieg on Monday, according to The New York Post. "Our administration together, all of us, is working to make that possibility a reality."

The event was focused on promoting electric buses as gas prices soar. Much of the Biden administration’s plan focuses on promoting green technologies, including electric vehicles.

However, just because gas prices are rising that does not mean electric vehicles will be the more economic or readily available ‌option. The war and international sanctions have raised the price of nickel, much of which comes from Russia and is a key ingredient in electric vehicle batteries.

In his address on Tuesday, Newsom mentioned that California has a large supply of lithium. “We have the opportunity to extend this leadership, to secure a critical component of the supply chain for batteries, by tapping one of the world’s largest lithium reserves – right here in California,” Newsom said.

Whether the transition to electric vehicles will become smoother or quicker because of the war between Ukraine and Russia, and the international sanctions thereafter, remains unknown. Potentially transitioning to new materials and speeding up the U.S. to the forefront of the electric vehicle market and a carbon-free future will remain a challenge, regardless of the geopolitical circumstances.