France's Finance Minister confirmed Wednesday that between 30 and 40% of Gulf refining capacity has been damaged or destroyed, pulling roughly 11 million barrels a day off global oil markets — a useful reminder that gasoline pricing is tied to global supply chains in ways that are completely outside your control. Electricity isn't immune to price swings, but it's driven by very different forces, and disruptions like this have a way of sharpening the math on a decision a lot of people were already thinking about.

The auto industry just took a collective $65 billion writedown on its EV ambitions, and the response from almost every major player has been the same: bring the gas engine back, call it a hybrid, and pretend that's progress. Ford killed the F-150 Lightning. Ram shelved its electric pickup entirely. Honda walked away from its 0 Series to the tune of $15 billion. Meanwhile, Rivian showed up at SXSW and unveiled a full lineup of pure EVs without flinching. Here's why that matters, and why all these hybrids and range extenders are just a way of delaying the real work.