Could a rift be forming between Big Oil and OEMs? 

For many decades, the automotive industry has moved in tandem with Big Oil. In the 1950s, the two industries allied to build out US road infrastructure and foster a culture of dependency on private vehicles. The two industries were in mutual agreement about electric vehicles (EVs) for some time, too—they were expensive, disruptive, and a threat to profits. However, much has changed in the last five years. EV sales continue to surge, with the International Energy Agency (IEA)’s Global EV Outlook 2023 report forecasting a 35% increase in unit sales from 2022.