When oil reaches $100 again, what other new technologies will be viable? What about $200, $300? This could easily happen due to decreasing oil reserves and increasing demand for a carbon tax due to climate change. Many assume that the path from here is EV.
But at $200, $300, the technologies to make oil may become viable. There are technologies right now (I think Audi demonstrated something last year) to take CO2 from the air and combine with hydrogen to make oil. This kind of technology also goes very well with renewable power like wind and solar. The big issue with wind and solar is storing excess electric generation. Most think batteries are the solution. But what about just making oil instead?
All of this works directly with the huge current infrastructure and investment in oil and cars. It even provides a much easier solution to reducing climate change than EV. Just create a government regulation that requires all gas to be at least 10% from carbon neutral source. They already did it with ethanol (E10). And if more CO2 reduction is required, they can just keep increasing the percentage mix.
When all of these technologies are viable, gas will probably be very expensive. I don't know what the number will be, but let's imagine it's $10 per gallon. That's very expensive, but is it enough for everyone to throw away their cars and buy EV? Is it enough to pay the premium for EV?