EVs vs. Big Oil

InsideEVs: "EVS will decimate Big Oil. Even without U.S. tax credits." America just handed a victory to the fossil fuel industry by passing Trump’s “Big Billionaire Bill” in both the House and the Senate. "Despite the latest setback to EVs in Washington D.C., the world remains firmly on track for sustained EV adoption." Yes, the bill ends the tax credits for clean energy programs such as solar, wind and electric vehicles years ahead of schedule. but it 'balances' that out by giving tax breaks to oil and gas companies for drilling + development costs, in a classic example of reactionary industrial policy. U.S. oil companies are now 'free to leak as much methane—a hazardous planet-warming greenhouse gas—as they want into the atmosphere for another decade, throwing out a Biden-era penalty on methane emissions.' But by 2018 EVs began displacing a million barrels of oil per day [1 Mbpd]. By 2024 that had doubled too 2 Mbpd. The projection for 2030 is 5 Mbpd. Now the Empire is trying to strike back. "The torchbearers of fossil fuels are already making huge bets on EV charging and the mining of lithium, a key raw material used in batteries." Chevron is acquiring land in Texas + Arkansas for lithium mining. BP is rapdily purchasing charging infrastructure from Tesla + Alpitronic. "And Shell Recharge, the oil company’s charging division, is already investing in charging stations worldwide." Big Oil may not be trembling in their boots yet. And they certainly could care less about their damage to the climate, which they have comprehended for half a century. One out of every 5 cars sold now is an EV. The handwriting is on the wall.