Why oil price spikes (probably) won’t spur shift away from oil

Why oil price spikes (probably) won’t spur shift away from oil

Oil prices would need to stay high for years — not weeks or months — to drive a lasting shift away from the fossil fuel.The big picture: Every time oil spikes, the same question surfaces: Will this push more people into electric cars or install solar panels onto rooftops?State of play: That’s happening again following oil prices zoomed past the $100-a-barrel mark in the wake of the Iran war…

https://www.axios.com/2026/03/10/oil-price-spikes-prices-market-shift