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Oil is also used for plastics, fertilizer, and many other goods. Not just used for fuel. As the world economy expands, because in 10 years everyone will be on
by gregpilling 10y ago
Oil is also used for plastics, fertilizer, and many other goods. Not just used for fuel.
As the world economy expands, because in 10 years everyone will be on a smartphone, the demand for plastics and fertilizer and rubber and roads etc. that demand should expand more than fast enough to cover the fleet conversion from gas to electric.
200 million vehicles in the USA fleet, and they sell 17 million in a good year. 12 years to replace the fleet; it is currently about 11 years old on average.
I think the article is over stating it. There won't be any problem, it will take decades to adjust anyway.
- sunstone 10y agoWhile this may be true, assets can be repriced in a much shorter time frame. Approximately over night, once the penny drops.