With inflation rampant worldwide, we need to embrace the $144 Trillion bonanza it brings. What the corruption of the oil and gas industry failed to accomplish is to convince people that fossil fuels do not pollute the environment. Now with high gas prices, people have a reason to switch to electric vehicles, in addition to the feel-good aspects of reducing pollution. Air pollution from vehicles is real. Now with high gas prices, everyone has an incentive to purchase an electric vehicle.
Strong Growth of the US and World GDP is in the immediate offing. Just electric vehicle implementation is anticipated to add $114 trillion to the global economy by 2028. The growth that comes from replacing the entire installed base of gas-driven vehicles is a once-in-a-lifetime event, providing an enormous boost to the global economy. It makes the US national debt of $30 trillion pale in comparison to what is added to the economy by just this one industry, one of many industries driven by AI and energy storage implementation.
Electric vehicles are but one aspect of the new industrial revolution. Silicon carbide replaces silicon. Robots replace much of human manufacturing labor. AI, CBDC, autonomous vehicles, robots, air taxis, smart contracts, robotic abdominal surgery, agricultural robots, and a range of new automation technologies are going to push economic growth far beyond what is even dreamed of today. This automation has been labeled the 4th industrial revolution and it truly brings wealth to everyone.