I don't like using the word 'inevitable' but the writing is on...

I don't like using the word 'inevitable' but the writing is on the wall for petrol land vehicles. (For the foreseeable future air and sea travel will be oil dependent - but that's it.)

As the economic (and political) power of the oil lobby declines, more governments will pursue sensible policies (maybe even in Australia) and that will accelerate the trend.

As such, not only will ICE car manufacturing be phased out, there will be, I imagine, many incentives offered for the owners of existing petrol vehicles to trade in and get an EV rather than continue driving them until they are no longer repairable.

Morgan Stanley made a lot of money for their clients in the past 24 hours, but the effectiveness of such tricks will decline over time as the weight of technological and economic evidence grows.

PS - the current German government is nervous about the potential ban on diesel vehicles because of the political backlash, but the reality is there is an environmental and public health need to get them off the road. You can't hold back to tide forever.