This is one reason why the repeal of EV subsidies in the BBB is big mistake. We are basically ceding the EV industry to China.

Make no mistake: no critical industry in the US emerged without large government subsidies, from the railroads on down. https://t.co/kAEpHenR8u

— Aaron M. Renn 🇺🇸 (@aaron_renn) July 8, 2025

Every major industry that has been developed anywhere ever has been government-subsidized all the way back to ancient times. It’s funny when idiots are like, “Buh-buh-buh, Tesla gets government subsidies! That makes it faaaaaake!” Or on the right, “Solar power got subsidized! That means it can’t worrrrrrrk!”

Meanwhile, oil companies and auto manufacturing incumbents receive dozens of billions in direct subsidies and tax breaks a year and no one says shit¹. Makes no sense. If you object, at least be consistent. But no one any side ever does that. And the clown show continues.

1. A rough calculation is that worldwide, oil companies since their inception have received somewhere around $1 trillion in direct subsidies in today’s dollars.