I think you are correct but I think there is more to it, and at some point in
time the comparison could change.
The full analysis would need to determine how many miles you can drive on $10
worth of gasoline vs. how far you can drive on $10 worth of electricity, and
that is a complicated analysis. My belief is that petroleum-derived gasoline
will continue to increase in price, probably faster than cost of electricity.
At some point the electricity side of things might be the most economical.
Right now we have lots of coal, and we are trying to develop other forms of
energy such as wind. OTOH we are also trying to develop other forms of
hydrocarbon fuels, and there are other ways to power cars with hydrogen and/or
electricity other than electrolysis.
> That's because it is too good to be true.
>
> Let's see. Burn coal to make electricity. Use electricity to split
> H20. Then burn the hydrogen and oxygen. The energy balance just
> doesn't make sense.
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