Looks like the extremely wealthy and politically influential Koch Brothers are waging a multimillion dollar war against the burgeoning electric vehicle (EV) market, notably frustrating none other than EV titan Elon Musk.
In an effort to strike back at record-breaking EV sales, the fossil fuel industry is allegedly funding a new organization that will spend $10 million a year to push petroleum-based transportation fuels and attack government subsidies on EVs, refining industry sources told the Huffington Post.
According to HuffPo, a Koch Industries board member and a veteran Washington energy lobbyist will be involved in the purported EV-squashing initiative.
“I think they (are) approaching all the major independent refiners,” one industry source explained to HuffPo.
The mission of the still-unnamed group will be to “make the public aware of all the benefits of petroleum-based transportation fuels,” the source said, adding that “the current administration has a bias toward phasing out” these fuels.
“(The Kochs are) worried about state and community subsidies,” the source said. “In 20 years, electric vehicles could have a substantial foothold in the U.S. market.”
Oil baron brothers Charles and David Koch of are two of the four richest Americans according to Forbes, holding more than $80 billion combined in net worth. It’s an open secret that the conservative oil barons have funneled eye-popping sums of money to curry influence in their favor, including nearly $1 billion to GOP candidates for the 2016 presidential election as well as vicious campaigns against climate change and renewable energy.
“The Kochs have invested heavily in a pugnacious defense of fossil fuel consumption,” a conservative energy analyst told HuffPo. “They’ve done this in the electricity sector, and as the debate shifts to transportation they’re behaving true to form.”