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0 pointsflurdy6y ago0 comments

Until we figure out better alternatives to plastic (or rather are more incentivised to use alternatives), and other by-products, then we will be stuck with our total dependence on petrochemicals.

True, more use of EVs will reduce oil demand somewhat and lower prices. Though that again just means less investment in exploration and research, and temporarily seal low yield oil fields, we will still pump more or less the same enormous amount of oil we do today, if not more due to ever-increasing Earth population.

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Brakenshire6y ago

Petrochemical feedstock only makes up 10-20% of oil demand, and road transportation 50%. And there are multiple different sources for those feedstocks. As I say, oil will remain an important commodity, but its days as the pre-eminent commodity, and a key driver of geopolitics, are already numbered.

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