Or another 50 years. The modern western disposable culture isn’t global, although is certainly envied by many who don’t have it.
Also oil has high fixed costs. Stations, tanker trucks, refineries. Fewer customers carrying them means they rise as a percentage of purchase price.
For example, vans must be manufactured on 1 January 2007 or later to be used in Copenhagen. In July the date will become 1 January 2012 [1].
That doesn't yet apply to cars, and I think the truck counts as a car. It does apply in some cities in Germany, where the limit depends on the fuel -- petrol cars are often limited to 30 years (1992), diesel to 2007.
I expect these regulations to tighten as electric cars become widespread, and the various exemptions to become more stringent.
[1] https://miljoezoner.dk/en/regulations-and-vehicles/regulatio...
The only way ICEs will go away is by hostile legislation, being regulated and taxed to death purely for ideological reasons, as is happening.
Err, what? I'm in Paris, I can't drill that kind of hole anywhere near my home. The article is about the EU; but I doubt most people can do that even in the US, except when you have a house in the middle of nowhere with lots of land around it.