EVs aren’t wasteful. The US alone consumes 9 million gallons of gas a day. It’s not sustainable. If we don’t transition in the next fifty years no one will be driving except for the extraordinarily wealthy.
Oil is made over millions of years and we’re on track to deplete it in under 200 years. We’ll never completely deplete it because the oil that’s left will be uneconomical to extract, but that’s functionally the same thing.