The Day when Oil is only worth little more than high quality Coal today?

[KilonBerlin + 9]

Hey,

I'm sure not only I was having the idea that Electric-Mobility create whole new industries and some materials will be needed in amounts hard to imagine, same as a 1930 civilian after the 1929 "Black Friday" (in US its Thursday because of the 6 to 9 hours difference between Germany/Central Europe and the "Lower 48"? Alaska is 10 hours earlier than Berlin afair (now 17:55, means 11:55 in New York City/East Coast and 8:55 in California/West coast. Alaska than 7:55 and Hawaii 6:55 (for political reasons? Correct would be 5:55 or earlier?!), we have Corona as a "crisis", in 1930 it seemed unbelievable that global oil demand would reach 15 million barrels daily, even growth to 10 million global seemed far away due to the 1929-crisis. 2019 maybe was "Peak Oil Demand" and supply was somewhere between 99 and 100 million barrels per day, closer at 100m than at 99m...1970 to 2020 are hard to compare even with 1973, 1979 and 1990/91 etc... 

Its more like early 20th Century and electricity and the bulb existing for years now got cheaper to produce and the new bulbs are safer, cleaner and offers many different types of light (Kelvin, brightness, duration...) and without the car existing as real mass product looks like petroleum lamps in 50 years could be almost not used anymore... 

and even reducing oil fuels to aircraft, special ships in international waters taking advantage of a cheaper oil propulsion and so on in 2020/2021 still leaves large industries. First we larger populated and heavy oil revenue "addicts", with no real net natural gas imports bringing at least a small relief (as Natural Gas is marketed another Way to trade it sooner or earlier above oil prices as its the "greenest" of the "big three" (Crude Oil, Natural Gas and Coal). "The least dirty" is more correct. WTI was first time in history (strong) negative and Oman made a unique offer for their (maybe they know more, but not long ago at least ~75% of Omans oil reserves were in that block... they wanted some billions cash now and other conditions for a majority or full access to the block? First Middle East oil producer who sells his oil

I think again in a "up to" 50-year step forward, but already 2030 plans in many economies is dangerous, new technology...Norway plans to ban new fossil fuel vehicles by 2025, how will the global oil market look in 2030, 2035 and 2040 with 2045 being "half time"?! 

Edited November 29, 2020 by KilonBerlin