We'll still be dependent on materials like plastic. Entire categories of good production, like corn processing, depend on using parts of processed oil. Ships burn oil and they're not going to switch to electric any time soon.

Our oil dependency isn't just about the cars we drive.

Just about all applications of oil and natural gas have similar features as their use in the transportation sector: other energy sources could be used, but they are more expensive.

There are no circumstances in sight that would make oil/gas extraction uneconomical, especially in light of the rise of demand from developing countries.

So we'll have to arrange for the oil extraction reductions using international agreements.

It's not about oil necessarily. It's about energy source or more generally - a valuable resource. If lithium batteries become the new "oil", then lithium rich countries will become targets and oil countries will be ignored. But I think oil will be valuable for many decades to come. Oil use is projected to increase worldwide by every regulatory body.

As long as oil is valuable, we'll fight over it. If lithium becomes valuable, we'll fight over it. Times change, but sadly people remain the same. Especially the greedy elite.

One hope is for more stability. But I can imagine a duality where countries developed enough for EVs will decouple somewhat from countries developing on oil. This assumes oil remains vastly cheaper for under developed regions.

... and we’re dependent instead on rare earth elements and the like