Ohio Road Budget Could Run Out of Fuel as Drivers Switch to Electric Vehicles
The Energy News Network published a story detailing an RFF report about the fiscal implications of the US energy transition.
Ohio is relatively fortunate compared to other states featured in a recent working paper from Resources for the Future, a nonprofit environmental and economics research group based in Washington, D.C. Wyoming, for example, depends on fossil fuels for 59% of its state and local tax revenue.
Still, most state road budgets will feel the impact as more drivers choose electric or more fuel-efficient vehicles. In Ohio, work is already underway within the state government to develop alternative funding approaches.
“Regardless of what happens with policy, the energy system is changing,” said Daniel Raimi, who heads up the Equity in the Energy Transition Initiative at Resources for the Future. “I think the need to address climate change means that the energy system will change more rapidly than it otherwise would.”
