Can oil still dominate in a renewable world?

[simonova]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining. But can oil-producing nations adapt or stay powerful in the green energy era?

[_act_]

Not all the countries that depend on oil, United States for example can survive without oil if the world move away from the oil era to another era which makes little use or no use of oil. But there are many countries that solely depend on the oil for export and local consumption in a way that if such countries do not produce oil, they will become poor, such countries will be affected if they do not try to develop their countries to adapt to what could happen in the future.

[Spaceman1000$]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining. But can oil-producing nations adapt or stay powerful in the green energy era?

Crude oil nations well definitely survive, the truth is that, ever since the world discovered oil, the usage of oil has continued to metamorphosed from one stage to the other, from combustion engines to now electric cars and bikes, all of this new modern technologies still usei oil one way or the other, engine must certainly use grease oil to lubricate the movement of the crankshaft and other parts of it that uses lubricant, same thing go with the hydraulic oil and rest of them. So nations that have oil will definitely not be too affected by the renewable energy emergence, oil and it's over 2000 byproducts will still be needed at the international market and those nations will continue to make money.

[Alpha Marine]

There is a common misconception that petrol is the only product obtained from oil. This is so wrong. There are over two dozen other products made from oil. Aircraft still use jet fuel, and this includes commercial, private, even fighter jets and military planes rely on it.
Liquefied Petroleum Gas and Fuel Oil, which are used by ships. All these are ways oil will continue to dominate. Every big ship, from container ships, cargo ships, cruise ships and even submarines, all use oil products.

There are also lubricant products obtained from oil, like Lubricating oils, Petroleum jelly, and Microcrystalline wax. Then there are the chemical products also. There are solvents, pesticides and fertilisers used in agriculture. Oil products are also used in some pharmaceutical products.
There are other products like Asphalt and Petroleum coke, which are all gotten from Oil.
So oil will always dominate and always be relevant for the foreseeable future. It is cheaper and more effective than the alternatives.

[Kelward]

Oil cannot dominate if most of the world moves on to renewable energy, the producing countries will not make turnover like before because most of the crude oil are refined for petroleum products. This should be a wake up call for countries like mine that almost totally depend on crude oil sales to run it's economy, when there is no more serious demand for our crude oil I wonder what will become of our economy.

Advanced countries are moving on from totally dependant on petrol for the combustion of their vehicles and one day electric vehicles will become common, it'll make petroleum products to become obsolete. Crude oil will only be demanded for lesser needs like lubricants, maybe the corrupt leaders that solely depend on oil exportation will be drinking the excess crude oil.

[Royal Cap]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining. But can oil-producing nations adapt or stay powerful in the green energy era?

Honestly this is a real challenge. Many oil producing countries still rely heavily on oil for their economies. Countries like Saudi Arabia and the United Arab Emirates are already trying to diversify their economies, they are investing in solar and hydroelectric projects and creating new opportunities for local industries to reduce their dependence on oil and on the other hand some countries like Venezuela and Nigeria still rely heavily on oil for their economies which could delay their adaptation to the new energy era and face economic pressures.

[WillyAp]

Oil is the origen of Plastic.
Try to eliminate plastics, you are not the only one wishing to get rid of plastic.

[BIT-BENDER]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining. But can oil-producing nations adapt or stay powerful in the green energy era?

Where is your prove that oil demand is declining, the funny thing is that people see images of fancy electrical car here and there and then immediately conclude that the end of oil powered cars has come.
Everyday companies that produce oil ran cars are producing as much cars as they always produce and there are so many reasons why the oil demand can not go down. People are now accepting electricity but doesn't mean they are dumping oil.

[Fortify]

There will be a day in the future where oil runs out or starts to get prohibitively expensive to use, however it seems to be pretty stable right now. It does feel like countries that get ahead on electric power and renewable energy are going to hold an advantage in future, because they will be less vulnerable to oil price shocks that seem to happen periodically. At the moment the oil market is effectively controlled by OPEC and particularly Saudi Arabia with their huge reserves, that gives them a lot of economic power as well because they can cut off countries that do not play ball with them. The sooner that power is extinguished the better, because we've seen that the head of Saudi Arabia can be pretty evil with the actions he takes and the monarchy only survives because of money from oil.

[mindrust]

It should. I mean there will never be a renewable world as there is no such thing as renewable energy. Everything has a shelf life. Even lithium does. Wind turbines? They eventually die. Solar panels? Same. They all need replacement eventually and they don't grow on trees. People dig the ground to find more lithium, the same way they dig up oil. As the boss said, it is just "Green New Scam". China doesn't give a damn about any of this but somehow the western industry is getting strangled by this non-sense.

People will eventually wake up to that scam but it won't matter if they don't do it on time. Hopefully Donald has a solution and a roadmap. We can't afford to have a democrat leadership in the next 3-4 decades at least. Hail to King Trump. Drill baby drill

[DYOR+BTC]

It should. I mean there will never be a renewable world as there is no such thing as renewable energy. Everything has a shelf life. Even lithium does. Wind turbines? They eventually die. Solar panels? Same. They all need replacement eventually and they don't grow on trees. People dig the ground to find more lithium, the same way they dig up oil. As the boss said, it is just "Green New Scam". China doesn't give a damn about any of this but somehow the western industry is getting strangled by this non-sense.

People will eventually wake up to that scam but it won't matter if they don't do it on time. Hopefully Donald has a solution and a roadmap. We can't afford to have a democrat leadership in the next 3-4 decades at least. Hail to King Trump. Drill baby drill

Underlining the word  Renewable energy, its a type of energy that can be replenished after been exhausted
from some natural sources of energy like the solar wind and hydropower. The above mentioned sources of energy are sources that cannot be exhausted no matter how it is used, so talking about the above mention point let us get it clear that there is renewable sources of energy even if they are not properly managed for now. As for the medium through which this energies  are being generated like the solar panels, wind turbines and so on they can be replaced if damaged but the energy source itself still remain available at all time.

Saying there is know renewable energy,  I don't believe its  true because of the presence of those energy source

[Odogwu-Blockchain]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining. But can oil-producing nations adapt or stay powerful in the green energy era?

Yes, if other industries producing electrical vehicles, those parts of the vehicles are produced by residue from oil manufacturing process, its all about energy which cannot be destroyed but can be converted from one form to another, oil can still be demanded in another productive sector that can generate more revenue more than been used as lubricating oil in machines and vehicles.

Its just the demand for vehicles that got declined, in the process plant, most centrifugal pumps need oil to function fully. 
 

[passwordnow]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining.

If the demand for oil has been declining then it should reflect to how much it costs per barrel but it seems not going down.

But can oil-producing nations adapt or stay powerful in the green energy era?

Yes, they can remain powerful despite with the growth of the electric vehicles. The demand shall decline but there will still be industries that will rely heavily on oil like the manufacturing sector and all of the others that have equipment that are powered by oil. Even the electric generators, they're powered by oils.

[Mikky02]

Oil can only be dominated in a country where clean energy is used more and will suffer a great challenge and that's because it demand for it will decrease as the day goes on people will want to adapt to the clean energy era hereby decreasing the demand for oil but can still be used by some industries but it importance will reduce and since it won't be needed to carry basic functions how do you expect oil to dominate in such an environment where there day to day activities depends on the clean energy but I don't think oil will be useless just it demands and importance will decline

[STT]

Oil will exist in a hundred years because of its unique useful properties, I know this because its true of coal which some might consider archaic yet also has unique properties hard to beat.   Its highly unlikely oil is dominant or anywhere close to the position it holds today but its ability and utility will exist for this decade and for quite some time.

Its already true that various other forms of energy are competing increasingly well and developing in ways we can foresee will replace oil but never entirely imo.  That diminishing business in its longevity will help oil producing countries to switch away and diversify which they are already trying to do from what I've seen.

Oil's low price at present is more a reflection of a weak world economy, poor growth compared to what could have been achieved in healthier more prosperous times.  Many workers struggle to make a living and companies are not doing as well as they should, there is a reliance on technology to somehow provide efficiency but its not from some struggle with green economy its an overall failure from excess debt, politics and war imo.

[Felicity_Tide]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining. But can oil-producing nations adapt or stay powerful in the green energy era?

I have actually asked myself this same question about oil producing countries suffering as a result of people moving on to other things especially with the use of renewable energy. The thing is, I don't see the oil market declining anytime soon. Oil production/market is as massive and important as other markets. Of course, a few countries has seen the need to start evolving so as to be less dependent, which is obviously a good move imo, but at the same time, I still don't see any of these affecting the oil market.

But one thing I really hope for every oil producing countries, is that they develop their country while they still have the chance to do so. Just because the oil market is very active, doesn't mean that all the money made from oil should be wasted. We don't know what the future holds. Technology and innovation can take a lot of people unaware. Oil producing nations have to be prepared and utilize every single opportunity in this current world of relevance.

[Darker45]

Oil producing nations control the supply. If the demand declines, production could also be slowed down, thereby preventing the price to tank. Secondly, the world remains dependent on oil in so many ways. The push for clean energy and electric vehicle could only reach so far. It can't totally replace oil, at least not in the next half a century. Also, rich oil-producing nations, in the middle east, for example, are now heavily diversifying their wealth. They're fully aware of the efforts to significantly cut oil consumption.

[Lidger]

Electric cars may be a sign for us that we will run out of fuel in the future. Various major car manufacturers are now focusing more on building electric cars, such as BMW or Tesla. These electric cars have gained a lot of popularity recently and people are buying these cars widely in developed countries. Electric cars are not only environmentally friendly, but they are also an alternative to fuel oil. Although Asian countries are still completely dependent on fuel oil, developed countries are definitely thinking about alternatives. Middle Eastern countries are constantly extracting oil from mines and marketing it, so the question naturally arises that how long these Middle Eastern countries can continue to get fuel oil supplies and what will be the situation in the world if the source of fuel oil suddenly runs out?

[Pablo-wood]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining. But can oil-producing nations adapt or stay powerful in the green energy era?

Everything comes down to adaptation. As the global demand for oil continues to decline, oil-producing nations will have no choice but to embrace the green energy era. What's currently slowing this transition is the existing high demand for oil, but once that demand drops below a critical level say around 20%  and revenue generated are no longer substantial, these nations will be pushed to shift toward sustainable energy sources, it's just a matter of time.

[tsaroz]

With global pushes for clean energy and electric vehicles, oil demand seems to be declining. But can oil-producing nations adapt or stay powerful in the green energy era?

Its certain that if things continues the same way, the demand for oil and LNG would start declining in 2030s. Oil surely would not dominate but with decrease demand in oil, the oil producing syndicate could further limit their production and keep inflating the price for it not to fall below this level. They can't just keep increasing it either as when it becomes large enough, fracking oil would again be profitable.

There are a few sectors that would still need oil but with small demand, not every expense of the petro economies could sustain. Many of them are already working for diversification while some would be less well off than they are now. Even though the population in developed countries start to decrease, the electricity demand would keep on increasing, AI is also a large driver, countries that produce electricity the most from renewables would be more independent and financially stable.