Uplifting News
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Primary reason I don't understand the call for "drill baby drill". We'll end up with oil and needing to sell it for much cheaper than anticipated because the demand is low.
Ya I always hate when people say, "We'll always need oil!". I mean, maybe ya, but for every time we convert a car, or power plant, to electricity, or stop producing some plastic product, that reduces the overall demand. It's a good thing!
We will for a long time, but the less we need the better. At some points we will replace plastics etc. But we don't have enough alternatives that make economic sense yet.
As long as you have a cartel OPEC controlling the price you won't end up like that.
Big manufacturing stands to benefit from this too.
Lubrication and grease is a big fucking industry. Everyone needs it, from automobiles to machines binding beds together to bridges and, hell, everything, EV's even. The cheaper oil is, the cheaper that gets, and I know I'd love to walk away from a $35 oil change.