It's from before Trump's announcement but it sets out the situation well, IMO. Holman Jenkins is very sharp, IMO.
There is probably a paywall, but I can't believe anyone could do without a WSJ subscription if they have a retirement portfolio.
I honestly doubt "big oil" is part of this.
PS - CAFE stands for Corporate Average Fuel Economy
Link: https://www.wsj.com/articles/the-california-war-is-about-evs-11566945897
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