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oil economy is now trapped in hell And it gets worse because all industrialised countries are trying to move away from hydorcarbon fuels, not without success.
by YorkshireSeason 8y ago
oil economy is now trapped in hell
And it gets worse because all industrialised countries are trying to move away from hydorcarbon fuels, not without success.
it'll rip the kingdom apart.
And many middle eastern countries would be delighted, and will covertly aid this process.
- onetimemanytime 8y ago>>And many middle eastern countries would be delighted, and will covertly aid this process. They might be in the middle of the same thing for themselves. Virtually all depend on oil, smaller but richer ones like Qatar, Dubai etc might get invaded, ala Kuwait
- mxschumacher 8y agoThe moves away from nuclear and coal are stronger. Consumption of oil & gas is still on the rise globally.
- sergiosgc 8y agoThat is true. Your comment motivated me to go dig a bit deeper on the statistics. The EIA data browser is a great tool for that: https://www.eia.gov/beta/international/data/browser/ https://www.eia.gov/beta/international/data/browser/ Oil consumption is dropping in Europe, stable in the US and rising fast in Asia and Middle East (also in Africa, but it is on absolute terms not very relevant). It seems more technologically advanced countries are seeing an uptake in new energy sources. If this theory is correct, it is expected that tech will percolate to the rest of the world, and a drop in oil consumption is indeed on the medium-term horizon. China's push towards electric transportation is consistent with this theory.