Viewing a single comment thread. View all comments

pk10534 t1_j8ft284 wrote

Reply to comment by Birdy_Cephon_Altera in [OC] New Mexico Now Produces More Oil Than Mexico & Venezuela by latinometrics

I wonder with the continued implementation of climate change policies and regulations, as well as the shift towards EVs, if those 300 million barrels will be worth as much in 50 years though

10

a_trane13 t1_j8gc66s wrote

Crude will still be needed for plastics and polymers, and without as much gasoline demand it will be a little less of a commodity, which typically means more expensive. Especially once some oil refining facilities start to age out and close without being replaced.

16

danielv123 t1_j8hmxtd wrote

Emissions controls are also bound to become stricter, which increases prices.

0

Arronax50 t1_j8h5by5 wrote

Don't worry. Most countries don't do shit about EVs, in Latin America an electric car is as rare as a 50 yo virgin.

3

pk10534 t1_j8h5dfz wrote

It was the same in the US ten years ago, who knows where it’ll be in the next 50

5