Not if the regulatory environment becomes very unfavorable to oil. Cheaper is another way of saying less profitable. If you’re not selling as much, all of that

Not if the regulatory environment becomes very unfavorable to oil. Cheaper is another way of saying less profitable. If you’re not selling as much, all of that infrastructure for hydrocarbon processing becomes more expensive to maintain. An oil well doesn’t give you fuel, it gives you crude which goes through a pipeline which goes to a refinery to split fuel, plastic ingredients, and tar. Then the fuel must be transported. And you have to operate the oil well, but water, and then the well eventually runs dry. People don’t really like wells near them, nor do the like the waste water from hydraulic fracking. Without a big industry to back it up, people will want to ban oil extraction. All of which is to say that supply and demand only go so far when an industry collapses from lack of demand. Look at camera film. Shouldn’t it be cheaper because no one is buying it and it’s a niche product? Nope, the economies of scale no longer work.