Everything runs on gas and oil, volatility in those markets results in immediate price increases on just about everything - commuting, food, travel, essentially every product we buy or consume on a daily basis, even things like asphalt and plastics. If you have rising costs or scarcity in raw materials to produce batteries, prices will increase and companies will change sources for those materials, but that doesn't have the immediate economic effect that large increases in fuel and oil prices have on individuals or the wider economy. It is still bad, but it's arguably not as bad as our current worldwide situation with gas and oil.
Companies are already working on alternative battery tech and ethically sourcing raw materials like nickel and cobalt. The last few years BMW has been working on the source of the raw materials used in their batteries. They're using blockchain to track sources, forming alliances with others companies to improve mining and environmental conditions, as well as buying from alternative sources. Lots of articles out there detailing these efforts, as well as statements on BMWs website showing the work they're doing (I'm too lazy to dig up the links).
No perfect answer, but electrics are a big leap forward.
All that said, I'm getting close to an electric ... for my wife's car![]()