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Agreed, auto fuel is more abundant than ever. Consider EVs, Ethanol, LNG, hybrids doubling and tripling efficiency.
by meltyness 4y ago
Agreed, auto fuel is more abundant than ever. Consider EVs, Ethanol, LNG, hybrids doubling and tripling efficiency.
- AtlasBarfed 4y agoIt will be oversupplied. But I posit that the oil/gas industry is built on large scale facilities that may not survive seeing demand drop by 30-50%. I believe this will trigger a "reverse economies of scale" where gas will get more expensive and less profitable from the drop in demand making large refining facilities and the like less profitable. Which will cause closures, and further inefficiencies, and a downward spiral. What I most hope is that the tar sands and fracking oil becomes fundamentally noncompetitive, and what is left is the remaining conventional extraction reserves. I also hope it starves every petro-authoritarian state. Saudi Arabia, Iran, Russia, etc. But that's still a decade away, a lot can happen.
- thriftwy 4y agoRussia by the means of its territory may process and export any kind of raw material. Whether it is oil, gas, coal, iron ore, steel, nickel, wheat, cooking oil, lumber.