It makes EVs and renewables more attractive as the price of oil and gas will skyrocket.
Renewables have little to no change in expected price of return.
Its fixed cost and not influenced by geopolitical events which makes it easy to lock in a consistent return
over the life of the product. They are usually long term agreements locked in 10+ years called power purchase agreements often signed by local power authority from private investment in renewables or sometimes the power authority will just build it themselves.
Fuel cost increases will make things more expensive especially for lower income earners in China/India etc
which could lead to increased E-bike/E scooter and EV transitions. That could lead to more demand in lithium and cobalt producers. There is quite a good chance there will be some sort of turmoil in Middle east in the near future. I think oil will have one more spike which will inadvertently put the nail in the coffin for oil and cause an increase in EV adoption.
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