Can anyone speak to the long term impacts of this? Like is gas going to remain high for years (or even worse get rationed) and I should trade in for an EV now?
The main point of news I heard was that the Iran infrastructure the US destroyed, in a time where they are allowed to repair it and not just get bombed again, will take three years to repair. Oil prices don't get "cheap" again this side of 2030. Not to mention that there is a bunch of Russian infrastructure that is still on the chopping block to be destroyed by Ukraine as that war continues. Which has the same time it takes to rebuild issues.
When people have an incentive to build that fast and cut corners (which they will). Under normal circumstances dotting the i's and crossing they t's, it's 5 to 7 years. Remember, the US is temporarily running low on missiles because of how much explosives Trump dropped on Iran. They blew up a petrostate level of petroleum infrastructure to the tune of $58B in damages of specialized engineering, about 15% of the country's total GDP. If recreating that in a quarter was possible, everyone with a drop of oil under their toes would do it.
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