In developed nations the use of raw materials is pretty much level- meaning that if it got cheaper there still wouldn't be that much of an increase in consumpti

In developed nations the use of raw materials is pretty much level- meaning that if it got cheaper there still wouldn't be that much of an increase in consumption. So the primary effect of something like this is to clean up mining that would happen anyway. In the grand scheme of things it's not that big a deal since the primary energy used to extract materials is an order of magnitude or two less than the energy used to process them. But still, the less oil we burn the better!