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re: 200 nations agree to move off fossil fuels in historic pact
Posted on 12/13/23 at 10:31 am to cwill
Posted on 12/13/23 at 10:31 am to cwill
quote:
The industry will still exist but it will be tiny…though I don’t think there is any imminent transition, pledge or no pledge.
Nope. That industry cannot and will not operate at a reduced capacity. Once the profitability goes away so will production. That's just how it works.
1
Posted on 12/13/23 at 11:14 am to MightyYat
quote:
Nope. That industry cannot and will not operate at a reduced capacity. Once the profitability goes away so will production. That's just how it works.
I think if there is a demand for oil for product mfg, there will be a price that will generate supply. With most oil being used for transportation, the demand will be significantly less so less producers. I think the market will balance and there will still be some production to meet the demand. The idea that we just wouldn't have anymore oil to make essential products doesn't compute.
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