RE: No FOMO?11 Jul 2019 11:02
The furure of oil ha been discussed numerous times on here. It is not going to disappear any time soon. Yes there is a big push towards electric vehicles of all types, but that will be slow in the case of the biggest types of vehicle, aircraft, ships trains etc. Just take UK for trains where the government has retracted its promise to elcetrify the GWR oute into Wales and SW. It is the hundreds of other products Oil is used for. Lubrication for mechanical items is still going to need oil even if they aren't burning it. There are a very wide spectrum of plastics made - its not all single use stuff - car body parts, cladding , carpet underlay, furniture, medicines, medical equipment, all sorts of plastic casings for tools , machines etc . When was the last time you saw an electric drill with a metal body? Insulation materials for heating and electric cables etc. I shan't go on but even the most negative of you get my drift.
Oil will dominate the world - perhaps not as a fuel - for many years to come. It'll certainly see me out