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UncleOxidantyesterday at 11:01 PM1 replyview on HN

They are more developed, sure, and the US (from a US centric view) is producing a lot of oil now. However, consider that pretty much all of the goods you see in the supermarket got there via diesel (trains, semi-trucks). The percentage of semi-trucks operating on electricity is still miniscule at this point. Air transport? All petroleum. Consider also other things like fertilizers - we're heavily dependent on nitrogen fertilizers derived from petroleum and planting season in the northern hemisphere is starting right about now. Yes we're producing a lot more electricity with renewables, but demand is also up.


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IsTomyesterday at 11:20 PM

Oil going through Hormuz is 20%, not 80% of global supply. It's true that demand is pretty inelastic, but it's not like it can't be cut at all.

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