Society's purchasing power worries me. How environmentally sustainable is it to replace all the billions of cars with electric? And then decades later, perhaps

Society's purchasing power worries me. How environmentally sustainable is it to replace all the billions of cars with electric? And then decades later, perhaps even under a decade given how fast some technologies develop, how sustainable is it to replace these electric vehicles with newer models? If people have the money, that's what they're going to do. And specifically in regards to Norway, the country exports its oil to other countries and owns its wealth to oil, being one of the largest exporters. So while headlines on electric car adoption are nice, they really miss the big picture.