SKB,
No I don’t see oil being pushed out of long haul aviation any time soon, but then it’s not a huge part of overall oil demand. Perhaps long term green hydrogen will be the answer along with lightweight fuel cells.
But EVs are set to take the light vehicle market, perhaps with some competition at the fringes from green hydrogen, eg if Japan imports large quantities of hydrogen for power generation then it might make better sense to use hydrogen directly to charge the car battery
Oil will continue to be pushed out of other sectors, eg power generation and heating applications, but elimination of coal should be a greater priority for these.
The phase of of oil is now clearly going to follow the twin themes of decarbonisation and energy independence.
Oh and in 20 years or so when enough EV batteries are being scrapped (after secondary use in stationary power storage) a recycling industry will emerge to recover all the valuable metals in them.
Not likely to be abrupt and imho still a good market for Dorado and it’s siblings.
I could be wrong, I am no expert or futurologist. We could all be nuked by Putin.
EL
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