Quote:
Originally Posted by someone123
Oil consumption already peaked in the developed world. The global forecasts I've seen suggest an overall peak around 2030-2050. This of course means we won't stop using oil tomorrow, but there's a big difference between a growing industry and a declining industry. Exploration will become less worthwhile since there are already large reserves and production will shift to the places with the lowest cost. This already played out with coal but a few decades before oil.
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This can't be stressed enough. Look at where coal is at today. That's oil's next ~20 years.
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