Saudi Arabian oil crisis boost for Lithium, page-5

I was thinking exactly that, unfortunately, there hasn't been a lot of evidence of this in the past.

In economic terms, lithium is a substitute good for oil. If the price of oil goes up then the demand for oil should go down and the demand for lithium should go up. I think because lithium for transport is such a small segment of the market right now that the two aren't yet considered substitutes for each other, but they will be at some point. One full-on oil crisis and they will be.