AFR - The hot commodities with leverage to the electric vehicles boom, page-12

Naza, while your statement of not running out of oil is true, we are running out of economic oil, hence the whole peak oil scenario.

It would take an essay of several thousand words to explain it fully to people, but those that don't believe we are running out of economic oil only have to look at the number of countries that are net exporters of oil. It is a number that has been in decline for the last 20 years. Then the new technology that you talk of has been in existence for over 30 years, if it is fracking of tight oil that you talk of, but has not been economic until oil went above $US80/bbl.
Oil from the Bakken, ie the fracked oil is now in decline because it is uneconomic this time until oil goes above $100/bbl as the best places to frack have already been used.

Again an essay could be written on the topic, but the simple fact is that the world needs to stop burning fossil fuels, and that will include tractors, ships, bulldozers etc, as with mass production the electric versions will eventually be a cheaper capital investment as well as cheaper running costs, so will take over for economic reasons as well as climate reasons.