Quote:
Originally Posted by WestCoastEcho
There are still other industries that depend on oil to function.
For example, demand for low-sulphur diesel is expected to massively spike next year; the new IMO 2020 regulations regarding ship emissions and fuel quality standard come into effect, which means ships will either need expensive engine exhaust cleaning retrofits, or burn ultra-low sulphur fuel as an alternative. Funny enough, the best feedstock to produce the ultra-low sulphur fuel is the heavy oil from the oilsands...
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Sure, the shipping switch is a one-off that will help for a while, and out of all the uses for oil some will be replaced sooner and some later, but the point is the trend, and the limited need for investment in additional oil sands production when you look out 10-20 years (which you need to, to get a payoff on an oil sands project).
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