Some counter points. First the technology development eco system has positive feedback just like the computer and semiconductor industry but with better development tools. Meaning the cost and performance will improve faster in the nest 5 years then the last 5.
Solar, wind and battery are cheaper now then coal or gas for electric production.
For commercial use EV are cheaper then gas for light vehicles so fleet managers will soon move to EV. For heavy trucks the energy density of batteries needs one one generation. Those two market segments account for 75% of fossil fuel use in US.
As to batteries, the EV industry added Li Iron Phosphate for materials that are easier to obtain a few years ago. In 2023 Sodium batteries are ramping up. Long term batteries materials will be 96% recycled and material logistics 10 % of first generation EV.
Oil still needed, but as much. Probably will take about 20 years for recycling to account for most materials. Grid batteries are moving to flow batteries with very long life and common materials.
Population growth is dropping in developed countries so more oil for third world.