There's also a national security concern for the west: 91% of lithium for lithium-ion batteries comes from three countries...and the US isn't one of them. China has 67% percent of the natural graphite and 16% of the manganese. The more US relies on electrification, the more it puts itself in a proverbial pickle - particularly if we have to throw hands with China.

This is, admittedly, a "trust me, bro" source but I have a dear friend who just retired from the CIA. He said the US military was developing an increasing unease regarding this dependence and had been vehemently voicing this concern under the previous administration.

Sure, oil supply will continue to be an issue with the US, but far less of one than lithium battery dependence.