Posted by DickyMe > 2019-12-23 13:41 | Report Abuse

This is not surprising. We are already witnessing, electric cars (full or hybrid), plying the road in some major cities. In some countries, public transportation is being "electrified" to cut cost and which is eco-friendly. Yes, environmental concerns too is suppressing demand for oil.

As rapid development in digital and space technologies takes place, this had enabled creating long lasting compact batteries as source of energy. Though this may not be sufficient to energise industries, it had already reduced dependence on oil in some sectors. Solar energy harvesting is also another valid source.

As I have always said, oil will not be the much sought after commodity as energy source, now or in the future. It's relevance is being sidelined by scientific development in the pursuit of alternative energy source.