• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Iran strikes 85 U.S. military sites in the Gulf, sparking a global selloff in stocks and a spike in the price of oil

2

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it

3

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

1

Iran strikes 85 U.S. military sites in the Gulf, sparking a global selloff in stocks and a spike in the price of oil

2

Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it

3

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
TechAutos

EV adoption is soaring across the world—Wyoming wants to put an end to that

Christiaan Hetzner
By
Christiaan Hetzner
Christiaan Hetzner
Senior Reporter
Down Arrow Button Icon
Christiaan Hetzner
By
Christiaan Hetzner
Christiaan Hetzner
Senior Reporter
Down Arrow Button Icon
January 17, 2023, 8:35 AM ET
Republican legislators in the state of Wyoming have proposed a state-wide ban of electric vehicles, fearing a hit to their fossil fuel-dependent economy.
Republican legislators in the state of Wyoming have proposed a state-wide ban of electric vehicles, fearing a hit to their fossil fuel-dependent economy.Getty Images
Add Fortune on Google for similar content.

As zero-emission vehicles continue to replace combustion engine cars the world over, six Republican officials in the energy-rich state of Wyoming are looking to stem the tide. 

Governments have generally been if anything supportive of the EV trend as many seek to tackle choking urban smog and cut imports of fossil fuels. The latter not only makes them beholden to unstable petrostates such as Russia and Iran, but it also contributes to trade deficits and acts as a drag on economic growth. 

That’s why one out of every 10 automobiles sold globally last year came equipped with some form of a lithium battery for the first time ever, thanks to the growing popularity of the Tesla Model Y, BYD Seal and Hyundai Ioniq 5. 

Yet some jurisdictions still depend heavily on digging up hydrocarbons such as crude oil and natural gas for their prosperity. As a result they fear the eventual loss of the internal combustion engine (ICE) could cost their communities in terms of lost jobs and stifled growth.

One of those is Wyoming, where four state senators and two assemblymen have co-sponsored a resolution in the Cheyenne legislature that would ban the sale of EVs—a “misadventure” in their words—by 2035.

Since it is non-binding, it serves more than anything as a symbolic criticism against EV-friendly states like California that plan to phase out conventional cars that use petroleum distillates refined from oil sourced in states like Wyoming.

Furthermore, the resolution pushes back against President Biden’s federal EV tax credits, which entered into effect this year and threaten to further undermine demand for crude, whose local production has helped create well-paying jobs in Wyoming for a century.

“We are concerned about numerous states that have asked to discontinue petroleum powered vehicles—not just gas, diesel also—in their state by 2035,” state senator Jim Anderson told Fox Business on Monday. “We want to show support for our basic Wyoming industries: gas, oil and the extraction and processing of those products.” 

Asked whether the six Republicans would go so far as to actively shut down dealerships selling new electric vehicles, however, Anderson replied no. 

“We just wanted to make this statement since there seems to be a movement nationwide to eliminate our vehicles,” he told Fox, adding the state has been hurt “a lot by the [Biden] administration, because they have eliminated any new applications for drilling.”

Concerns—but an inexorable trend

There are well-founded concerns over the environmental effect of producing EV batteries due their energy-intensive assembly process. Moreover the battery cells require considerable mineral resources mined in far-flung countries like Indonesia (nickel) and the Democratic Republic of Congo (cobalt)—at least until recycling plays a greater role in replacing the extraction of virgin metals. 

EV advocates themselves acknowledge the vehicles only operate emission-free, meaning their CO2 footprint depends heavily on the mix of renewable power coursing through the grid, as well as how each one is manufactured and disposed of at the end of a vehicle’s lifecycle.

The problem for legislators like Anderson is that there is no turning back the clock for the auto industry at this point. Their profit margins are so thin they can no longer afford to develop in parallel two completely different types of powertrain once the direction of the prevailing winds is clear.

Executives have therefore sought to conserve their limited financial resources by allocating increasing amounts of their research and engineering budget towards de-carbonizing their model range. 

For example, Mercedes-Benz has stated it only intends to invest in further optimizing their existing ICE technology rather than spend billions to design a whole new, more powerful and efficient family of combustion engines when demand for conventional premium cars has likely already peaked.

As a result, the auto market by 2035 is expected to be overwhelmingly electric as every year manufacturers replace more ICE models with new electric vehicles like next year’s highly anticipated Volkswagen ID Buzz van, already for sale in EV-friendly Europe. 

Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. Sign up here.

About the Author
Christiaan Hetzner
By Christiaan HetznerSenior Reporter
Instagram iconLinkedIn iconTwitter icon

Christiaan Hetzner is a former writer for Fortune, where he covered Europe’s changing business landscape.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Microsoft President Brad Smith sitting.
AIMicrosoft
Microsoft’s Brad Smith on Washington’s AI policy: ‘Regulation without transparent or complete rules’
By Beatrice NolanJuly 9, 2026
3 hours ago
Elon Musk and President Donald Trump seated
Big TechElon Musk
Elon Musk’s judge has ‘significant misgivings’ about $1.5 million Twitter settlement—but approves it anyway
By Amanda GerutJuly 9, 2026
4 hours ago
a man having chair still by the window in the office
EconomyLabor
Labor force participation falls to 61.5%, the lowest in 50 years outside COVID, and economists say it’s not just people giving up
By Catherina GioinoJuly 8, 2026
13 hours ago
Man in collared shirt and jacket
Big TechAmazon
Amazon’s $25 billion ‘surprise’ bond sale dangled extra yield to lure in buyers—and flashed a warning sign about the AI boom
By Amanda GerutJuly 8, 2026
15 hours ago
Bezos’ Blue Origin is raising outside capital for the first time to compete for NASA contracts as rival SpaceX’s stock falters
InvestingJeff Bezos
Bezos’ Blue Origin is raising outside capital for the first time to compete for NASA contracts as rival SpaceX’s stock falters
By Mia OsmonbekovJuly 8, 2026
16 hours ago
Cathie Wood just bought the SpaceX dip again—and dumped Alibaba to do it
InvestingCathie Wood
Cathie Wood just bought the SpaceX dip again—and dumped Alibaba to do it
By Marco Quiroz-GutierrezJuly 8, 2026
16 hours ago

Most Popular

Iran strikes 85 U.S. military sites in the Gulf, sparking a global selloff in stocks and a spike in the price of oil
Newsletters
Iran strikes 85 U.S. military sites in the Gulf, sparking a global selloff in stocks and a spike in the price of oil
By Jim EdwardsJuly 8, 2026
1 day ago
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
Success
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
By Preston ForeJuly 6, 2026
3 days ago
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
AI
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
By Marco Quiroz-GutierrezJuly 5, 2026
4 days ago
Current price of oil as of July 8, 2026
Personal Finance
Current price of oil as of July 8, 2026
By Joseph HostetlerJuly 8, 2026
22 hours ago
Billionaires John and Laura Arnold have already donated nearly half their wealth. Now they're funding a hunt for the health risks of sports betting
Success
Billionaires John and Laura Arnold have already donated nearly half their wealth. Now they're funding a hunt for the health risks of sports betting
By Sydney LakeJuly 8, 2026
1 day ago
Mining CEO worth $24 billion nearly drowned and had to break his own leg in a freak hiking accident—he used the recovery time to go back to school
C-Suite
Mining CEO worth $24 billion nearly drowned and had to break his own leg in a freak hiking accident—he used the recovery time to go back to school
By Eleanor PringleJuly 8, 2026
19 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.