Fuel prices have pushed a lot of people and businesses to finally buy their first electric car or truck or crane or bulldozer or whatever, and they aren’t going to set it on fire and replace it with diesel gear if fuel prices go back down again. At most, they’ll sell it to someone else who will use it instead. Those electric equipment purchases have permanently removed fuel demand.
Fuel prices have pushed a lot of people and businesses to finally buy their first electric car or truck or crane or bulldozer or whatever, and they aren’t going to set it on fire and replace it with diesel gear if fuel prices go back down again. At most, they’ll sell it to someone else who will use it instead. Those electric equipment purchases have permanently removed fuel demand.