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Electrical_Age_7483 t1_j7wn04v wrote

Fuel price is going to soar as demand goes down and refinery close

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SomeRandomEntity44 t1_j7woggk wrote

That's going to be so far down the road we'll never see it.

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Electrical_Age_7483 t1_j7wprty wrote

Depends how old you are.

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SomeRandomEntity44 t1_j7wqvgs wrote

You might be right, so I'll clarify: nobody old enough to be on reddit. Unless we achieve escape velocity on aging.

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Electrical_Age_7483 t1_j7wryjw wrote

Fuel use is already trending down

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SomeRandomEntity44 t1_j7wvqcq wrote

Nowhere near the production. Then eventually usage will drive production down, but there are still reserves. It's going to take a long time. Sensational article headlines may say different, but that's just not the case. Gas powered things will not cease to be a thing in the next 50 or 60 years. Fuel will still be needed and produced for mass consumption.

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Electrical_Age_7483 t1_j7ww66n wrote

Reserves aren't going to cause price increase lack of refinery is.

Especially petrol rather than diesel

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SomeRandomEntity44 t1_j7wwmo2 wrote

You've missed the point. What do you think happens to the reserves? Refineries shut down and reserves around the world just sit forever?

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Electrical_Age_7483 t1_j7wxiid wrote

Some of the refineries become unviable going out of business decreasing competition and increasing prices of remaining refinery

What normally happens when competition decreases?

Reserves are irrelevant. When technology surpassed it then they don't get consumed. Also it may be used for diesel or avgas. That doesn't mean you can fill your petrol car

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SomeRandomEntity44 t1_j7x19bo wrote

Not in our lifetime. Simple as that. Get back to me in 59 years and we'll touch base on where we are with this.

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[deleted] t1_j7z35fi wrote

There is no scenario where all gas/diesel drops off at once, lots of smaller volume of use markets will need gas and diesel much longer than cars and trucks, so there's not really going to be any problem because for billionaires construction project to happen they will still need gas and diesel well after the point that most transit stops using it.

So the niche markets will keep having access to fuel oil, gas and diesel for a long time or your global economies will crash because while EVs are cool, we are a solid 20 years from having like electric bulldozers or batteries for remote mining sites vs generators.

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[deleted] t1_j7z2pjr wrote

I dunno, there are a lot of countries that have no way to replace fossil fuel income so they will probably be forced to sell cheap because they spent no time preparing for the future. There will be all this extra refinery capacity too, so I'm not sure prices would ever really spike all that much to matter. The average lifecycle of a combustion vehicle is pretty short so the bulk of gas usage will do down fairly quickly as EVs get perfected and their costs drop well below any combustion option.

You will save money on the purchase, fuel use AND maintenance, so they will get adopted fairly quickly as battery costs decline and first generation bugs get worked out.

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dfgdfgadf4444 t1_j805i7b wrote

Doesn't that go against the basic Supply vs. Demand equation?

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Electrical_Age_7483 t1_j81v3t2 wrote

No. Less supply of refineries will cause closures. Causing monopolies and lack of competition in refining costs. Prices soar

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