PEAK OIL - EPOCHAL EVENT OF OUR LIVES

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Gas-Powered Vehicle Sales Ban by 2035 is the trend.
New Jersey Joins California in Calling for Gas-Powered Vehicle Sales Ban by 2035 https://www.thedetroitbureau.com/2020/10/new-jersey-joins-california-in-calling-for-gas-powered-vehicle-sales-ban-by-2035/
States aren't alone in their plans regarding ICE vehicles.
by Joseph Szczesny | Oct 21, 2020

“Currently, gasoline-fueled vehicles account for over 70% of the transportation sector’s emissions. The 2019 EMP least cost scenario modeling, which assumed a 15-year lifecycle, calculated that 88% of new light-duty vehicle sales (passenger cars, SUVs and light-duty trucks) will need to be battery electric or hydrogen-powered by 2030, rising to 100% by 2035, in order to achieve the 80×50 goal,” the report said.

Car makers from the U.S., Asia and the Europe are preparing for a future where electric vehicles become the prevailing form of both commercial and personal transportation. Just this week, General Motors unveiled its new GMC Hummer all-electric pickup truck and announced plans to invest $2 billion to convert an assembly plant in Spring Hill, Tennessee to build the first-ever all-electric Cadillac, the Lyriq. Meanwhile Fiat Chrysler Automobiles N.V. confirmed it will invest $1.2 billion in a plant in Windsor, Ontario to build EVs in addition to its Chrysler Pacifica minivan.

Bans on vehicles with gasoline or diesel engines underscore the dilemma facing carmakers. On the one hand, they would prefer to keep selling vehicles with gas engines for which there is a ready demand. On the other, the bans could accelerate the shift to electric vehicles, which is currently moving slowly and leave them with billions of dollars in stranded investment.