If within 10-20 years we perfected cars and heating systems that required no fossil fuels, what would happen?

Question

Let's remember that if such technologies were perfected, they would soon spread throughout the entire world. Even counties that seem to be behind the USA - like China and India - would soon convert to these technologies.

So, if within only a matter of years most cars and home heating systems worked with an energy source other than oil or fossil fuels, what would happen to the worlds economy?

What would happen to the Middle East?

Would the short term consequences of this be bad?

Answer 1

if -only if-grass will grow for camels in mid east. Consequences unknown-deferle terrosists round the world to smash cars etc.?

Answer 2

The Middle East's infrastructure and development (at least in the short term) would be destroyed. All oil corporations and development would also be run out of business. That's a h**l of a lot of money to not be wanted anymore. However if that money lost from oil was changed over to sustainably developing the thrid world, we would all live on a better Earth.