To keep it shorter… There is a TON Of misinformation being thrown around by both sides. It can vary regionally. Like Europe could be out in 10 years. Or we could have 50% of the current production in 10 years. It doesn’t mean we don’t have oil, but the price of what is left goes through the roof. To add to that China and India are increasing consumption.
The main issue is we don’t know how long it will take, and it is the -price- that affects the economy. so we find have cost effective solutions otherwise it drives up prices. The longer we work at it, the better solutions we have.
The issue with the automakers is they got burned hard with the EV1/Ford Ranger by really poorly written California policy with their zero emissions mandate. It is a posterchild law of what not to do.
The to top it off, oil -investors- did a hostile takeovers in part to get rid of the electric vehicles.
Under the Obama rules, we didn’t mandate EVs. They have emissions credits that they can trade from other companies to meet the emissions/mileage requirements. It is a subtle change in philosophy, we care about the US fleet mileage, not the individual manufacturers. Biden is trying to push it a lot harder then I think is possible.
Then we helped Tesla, to demonstrate there is a market for EVs. It is a much different discussion in the boardroom if Tesla is selling 100k EVs a year, then if there is no proven market and you say you want to build EVs.
We are hoping by 2030 for price parity of the equivalent EV. But that was a rushed timeline and I have only seen a few things on the technological side for fast charging, and there isn’t even a charging network that can support it. It needs to be about 1mw charging.
Liberty Bell is the mining district in Alaska where they mainly mine for gold. There is another project called Liberty that is off-shore near prudhoe bay. Prudhoe bay has a lot of oil. You may be right, or it may be mixed up information. It also could be a bitumen deposit similar to the tar sands. I don’t know. But there isn’t enough to feed the world’s thirst for oil and only a small fraction of the US needs. Bakkan is a large deposit and output is 1m/barrels a day which is a small fraction of US needs. So will there be oil? yes, will you be able to afford it? probably not. The timeline for when that will occur, no one really has a great idea, but the more work we do to come up with cost effective solutions the easier it gets to transition. The longer we stretch it out, the more time we have.