Drew Dowdell

The oil companies know that the price of oil is a balancing act. They are the one industry that wants it high, but not too high. Too high is what causes the boom and bust cycle not only in their industry but in the economy as a whole. They also know that if they push people into EVs, chances are they aren't getting those customers back. With EV prices getting closer to parity with each passing product cycle and charging locations expanding rapidly, they know this is a bad situation for them. EVEN IF the US continues to lag behind the rest of the planet on EVs, losing India and South America to EVs could cause a cascade effect on them. The Chinese EVs are already in those markets too. The US might be the largest consumer of oil, but if we are the primary buyers costs will go up for us pushing more Americans to EVs.

That ain't no QX70.