Hopefully, it hits effective zero, and people start buying EVs.
As a bonus, maybe the military will stop wasting gasoline to murder civilians, since we’ve already established they value oil over absolutely everything else, including human life.
EVs are just as toxic due to mining techniques used at the moment, and with no effective way to recycle batteries even if they last longer than expected they aren't really a way forward completely, and baseload electricity still relies on oil and natural gas since most countries have for some reason pushed away from Nuclear as a long term non-renewable (it IS technically not renewable).
I get your point and it's clear that sticks seem to be more effective than carrots, but our supply chains are not electrified and that will take time, in the meantime this pain will propagate widely.