I remember being at aiche conference in 2018 I think, and there was a keynote speaker that helped draft the Paris agreement, talking about need to reduce co2 emissions and how they got their projections. Thus speaker was followed by speaker (VP of production or something) from Chvron or Shell and they basically presented that they see minimal to no change in oil demand or production, EVs will minimally reduce global consumption of oil and effectively for next 100 years they project business a usual for the most part…it was extremely depressing as I believe projections Shell/Chevron as they have the power behind them to maintain them, while the scientific community has to convince the average public to enact laws… Depressing…
Its failure of regulation. Same shit will happen in any system if its not properly regulated and checked…