Quote:
Originally Posted by Bunk
And so if battery technology advances to the point it starts to replace the internal combustion engine over the next couple decades, what becomes of our economy? Private transportation accounts for 40% of the sand for oil. If there's a glut of supply now driving down prices, what happens if/when demand actually drops? It seems we need to get into electricity production, transmission and storage to avoid economic annihilation, no?
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-Mechanic
-Taxi driver
-auto insurance sales
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It'll be more than just oil and gas that gets disrupted. However, oil will always be essential for many things. A "glut" is a short term problem regardless of whatever the demands are as there's a finite amount of oil and growing uses. It can contract for a while, but not indefinitely