alt Hacker NewsAlso, oil will only get more expensive in the long term, and electricity is going to get cheaper, with more and more solar panels generating electricity locally "for free".
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nindalf • yesterday at 5:21 PM
> oil will only get more expensive in the long term
Will it? Oil price will reach an equilibrium because lower demand due to electrification will lead to lower prices, which will increase higher consumption.
There are enough low cost oil producers like Saudi Arabia to keep the pipes filled with oil at whatever the prevailing market price is.
Oil (prior to the current pointless war) was pretty cheap, though. Adjusted inflation cheaper than e.g. it was at any point between 1975 and 85.