Earlier quoted context omitted.
80% of the world's oil is not going through the straight at all. 5 years is still optimistic. Esp if we are starting wars to pump up the futures market
Doesn't take a huge decrease in production to result in a huge increase in price, due to inelasticity in demand. Renewables and EVs are a capital-intensive industry, and the thing about capital-intensive industries is that they're prone to bubbles. If you get a year or so of EVs being cheaper than gas cars, you will see a huge growth in sales as lots of consumers make the rational choice all at once. The spike in sal…
Still, unfortunately switching to EVs is not the endgame. We have to stop fossils lower in the supply chain. Otherwise they'll be used for other forms of energy demand and get burned to heat up the atmosphere anyway.
Passenger cars cause roughly 10% of global energy-related CO2 emissions. USA has the world's highest per capita emissions.