Economic Development via Electric Vehicles Explored

OKLAHOMA CITY – The House Transportation Committee heard from industry experts on the future of electric vehicles and how Oklahoma can capitalize on the growing industry during an interim study Thursday.

Rep. Brian Hill, R-Mustang, requested IS20-033 after he attended multiple economic and legislative conferences where he repeatedly heard that up to 90% of transportation will be electric by 2050. Many fleet transportation industries across the nation are already beginning to convert portions of their fleet to electric vehicles.

“The energy industry has long been an integral part of Oklahoma’s economy, and with some planning now, we’ll be well-positioned to lead the nation in the electric vehicle market in the future,” Hill said. “With the expansion of this market will come new jobs and economic opportunity for Oklahomans if we take measures now.”

Hill said he was concerned about the fiscal effects of the expected shift to electric vehicles, as a large portion of Oklahoma’s roads and bridges are paid for by a tax at the gasoline pump.

“My concern, and my reason for requesting the study, is that if we don’t start researching the systemic effects of this potential transition to electric vehicles, then our economy will suffer,” Hill said. “I’m grateful to today’s participants in the interim study for taking the time to discuss our options so we can begin planning for the future of our state.”

A video of the interim study can be found at https://okhouse.gov/Video/Default.aspx.