U.S. Oil and Gas Association President Tim Stewart says President Joe Biden’s “aggressive” timeline for his electric vehicle agenda poses a major threat to autoworkers.
“The internal combustion engine [vehicles] are subsidizing and managing the billions of dollars in losses that the U.S. auto manufacturers are covering on the EV side of things.
And they’re not ready to get from here to there,” Stewart explains.
“We’re looking at a significant loss, frankly pending bankruptcies if they don’t figure this out.”