This transfer to EV's appears to be moving much faster than I believed possible.
It's very welcome, but there is a mountain of assets whose value will rapidly approach 0.
As gerontocrat and others have noted, many nations are very dependent on fossil fuels to make payments on their debt. If When these debts go unpaid, and become unpayable, will those that made the loans be able to keep up with their obligations?
Where and how will the downward cascade end?
Entities that profit from auto maintenance will be hard hit, as will most of the manufacturers, and their suppliers.
The companies that own gas stations will see their profits and asset values crash, just as large infrastructure outlays become essential.
Should an automobile charging station build facilities to entertain their stranded clientele, or should they assume that self driving cars are coming and host zero frills chargers.
None of us have much sympathy for big oil, but they do employ millions. Installing renewables will employ some, but eventually those jobs die and only the maintenance guy's have steady work. I think they tried some of these solutions in Flint.
EV's good, disruption necessary, but it could really hurt.
Terry
