US$100 per barrel oil will kill the internal combustion engine
If oil reaches US$100 per barrel, that will kill the internal combustion engine and it will truly end OPECs delusion that it still controls the future. Not simply for the obvious reason of petrol being more expensive at the pump and costing more to operate your vehicle. But also for the fact that many fence-sitting automakers who have been dubious or hesitant about electrics (or hydrogen or even interim stage hybrids) will now decide to go full blast on their e-vehicle development and not look back. There will be the usual firesale on big V6 vehicles and these will no longer make a comeback.
The renewable energy (RE) industry, already operating despite some hiccups on a much larger scale than the first OPEC oil crisis of the 70s, will no longer be weakened by a repeat of what happened during the Reagan years, when the first generation solar panels were taken off the White House roof. This is now a powerful industry, starting to wean itself off from subsidies. The combination of better and more efficient technologies, cheaper manufacturing and better materials, and US$100 oil simply makes its rise more inevitable.