Pain at the Pump?
Updated: May 4, 2022
While many of us have enjoyed the freedom and flexibility of telecommuting, most of us still must drive somewhere to get to the places we need or want to go. And if you’ve driven at all lately or, more importantly, had to fill up your car with gas, you’ve certainly noted how much more you are paying at the pump.
When it comes to the high gas prices, there are a lot of opinions about who is to blame. In the US, political parties like to lay the price of gasoline at the feet of whoever is president. If gas prices are low, the president is a hero, if they are high, the president is a pariah. The truth is, a single person in a high office has little to do with the price of gas. The oil business is based on global trade and is largely based on the actions of only a handful of companies. When you factor in oil cartels, like OPEC, who are able to control production levels which can help determine prices, it is clear that this important segment of the world energy market is highly susceptible to manipulation and global events, (such as the current war in Ukraine and the global sanctions against Russia). Countries like the US are heavily reliant on fossil fuels and when you consider the factors that can impact the supply and price of fossil fuels, it becomes even more imperative that countries, like the US, electrify and diversify as soon as possible. It isn’t just a matter of economics, it is a matter of national security. This is yet another reason why GAINTECH is so focused on batteries. Electric vehicles are one of the most critical pieces of the electrification of the US and other industrialized nations. If we can electrify our transportation systems, we have a real opportunity to reduce our dependence on fossil fuels. This isn’t just good for the environment, but it also puts pressure on the fossil fuel industry that has, in essence, had the ability to hold the world market hostage. As we discover more ways to tap into plentiful, renewable materials for making batteries, it becomes even more clear that we are only at the very beginning of an electrified world that is more competitive, less wasteful, and more secure. For a long time, electric vehicles, (or EV’s), were considered impossible at scale. As more of these types of vehicles entered the marketplace, they were considered the stuff of "tree huggers," hipsters, or even Silicon Valley tech bros. The truth is we have reached a point in EV evolution where these vehicles are becoming more affordable to the average consumer and, more importantly, they are becoming more affordable to drive and maintain. Consider this article and a recent study from the US Department of Energy: Analysis: EVs, Hybrids Are Cheaper to Run Than Gas-Only Cars (govtech.com) It is increasingly clear that EV’s are the way of the future and we at GAINTECH are there to help with the battery solutions for today and tomorrow. At GAINTECH we believe that batteries can help our transportation systems more sustainable, reliable, cost-effective, and secure.