The higher the prices go the less people buy the product. There will be a point where EV’s reduce the demand, then the whole business collapses (unless we use fossil fuels to run generators that produce electricity to charge the EVs, but that would never happen…).
The military machine will remain powered by petroleum for the foreseeable future which will keep it propped up somewhat. Personal transportation is a considerable chunk of the customer base but so are plastics, pharmaceuticals, agriculture, and logistical/transportation industries like airplanes and diesel locomotives. It’s still a net positive impact and should lower prices overall with decreased demand for it.
The higher the prices go the less people buy the product. There will be a point where EV’s reduce the demand, then the whole business collapses (unless we use fossil fuels to run generators that produce electricity to charge the EVs, but that would never happen…).
The military machine will remain powered by petroleum for the foreseeable future which will keep it propped up somewhat. Personal transportation is a considerable chunk of the customer base but so are plastics, pharmaceuticals, agriculture, and logistical/transportation industries like airplanes and diesel locomotives. It’s still a net positive impact and should lower prices overall with decreased demand for it.