alt Hacker NewsWould be humorous in retrospect if all the dire forecasts about "peak oil" turned out to be the opposite problem: collapse in demand for oil.
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seanmcdirmid • last Thursday at 7:14 PM
China doesn't have much oil. There dependency on oil is a huge weakness, and they are easily blockaded as well, making the problem of importing oil in wartime problematic as well. Their move away from oil is more national security even if it does help the environment.
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toomuchtodo • last Thursday at 6:57 PM
Can you expound? A problem in demand for oil for whom (besides perhaps petro states that cannot meet their budgets at low global oil prices [1] [2])?
[1] https://i.ibb.co/0jDyB6mX/Crude-Price-Forecasts-Are-Below-Le...
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That would be one of the better outcomes because there are a number of things for which it is very hard to use other stuff as a substitute. Oil is way too precious to be burned up.