Can oil still dominate in a renewable world?

[Abdulzuruku01]

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.

Absolutely, there are many countries now that only depends on oil as a major source of their income and their energy generation is also depend on it. I'm pretty sure that the world or technology may change anytime thatt the world will no longer depend on the oil as primary source again. some countries like Nigeria have other natural resources that can boost their economy but they ignore it and focus only on oil, and they can also get energy from non oil other sources of energy which they also not prepare to build their nation on that. As stable nation, as they are moving they should always prepare and thinking of advancing their survival that will be matching with any era of technological advancement.

[Akbarkoe]

Nothing will be replaced by renewable energy, oil will remain the best choice for modern life, renewable energy is only a simple solution but will not be able to meet all the energy demands of society, we know that many operations require oil even the power plant itself (among them), we need to measure how much renewable energy can be produced to meet the needs? will the price remain in accordance with the capital and results obtained, if the financing for making renewable energy is much more expensive or only has a small difference then there is no difference.

[beej]

Oil has change the modern world in countless ways, it’s quite
an influence in everything on this planet. Countries flourished
with it and industries rely on it. It’s dominant even when clean
energy technology is rising and evolving. Look at the implications
and the consequences on nations, industries and financial Markets
of what the war in Iran has caused. Removing or replacing oil
will prove to be a very complex task that would take generations
to initiate and adapt.

[Agbe]

I prefer countries using other things.to survive their economy than oil. Many countries Plus my own will not survive without oil and because of this oil things are very cost and inflation is very high. Because the Oil price in the international market determine the price goods and services in the world. Right now oil price international market is about $100 and coming to the local fuel price is $1 and for that goods and and services are on the outrageous rate.

[Swordsoffreedom]

I prefer countries using other things.to survive their economy than oil. Many countries Plus my own will not survive without oil and because of this oil things are very cost and inflation is very high. Because the Oil price in the international market determine the price goods and services in the world. Right now oil price international market is about $100 and coming to the local fuel price is $1 and for that goods and and services are on the outrageous rate.

Oil has been the lifeblood of the global economy for over a century. It has been closely tied to most of humanity's inventions and advancements over the past 100 year, from industrialization, automobiles, and aviation to petrochemicals. Therefore, finding an alternative solution will not be as easy as we might think

I believe that governments are aware of the consequence of dependence on oil, especially those countries that do not possess or cannot produce oil. But there is a huge gap between word and action, and wanting something does not mean you can actually achieve it.

[Supreme Donvic]

Before there was discovering of crude oil their where other things that were dominating and making huge amount of money but when crude oil was discovered those things stop dominating and crude oil started leading in the world market and countries that has this crude oil started making huge amount of money from it example is my country Nigeria because of crude oil discovering in my country a lot of other resources were abandoned and the focused only on crude oil a time will come when crude oil will not be relevant anymore because other things has been discovered that will replace or do the work that crude oil usually do you can see right now we have electric cars and we can also generate electricity from wind and sun and this can lead to the end of crude oil in the future not that crude oil will not be in existence or will not be sold in the world market anymore or used, but the value will reduce because other things that can perform or do the things it does has been discovered and produced and they are using it and it's working perfectly.

[Patikno]

Oil has change the modern world in countless ways, it’s quite
an influence in everything on this planet. Countries flourished
with it and industries rely on it. It’s dominant even when clean
energy technology is rising and evolving. Look at the implications
and the consequences on nations, industries and financial Markets
of what the war in Iran has caused. Removing or replacing oil
will prove to be a very complex task that would take generations
to initiate and adapt.

Personally, I don't know if oil will continue to dominate, especially when it comes to energy. As far as I know, oil (petroleum) is a finite resource, and its supply can run out. So, I don't think oil will remain dominant in the world for a certain period. I think renewable energy will replace oil dominance, especially since there are so many energy sources (not just oil). However, the transition process will take a long time, and may take several generations, as you mentioned.

By the way, in Indonesia, there is something called "B30"; a fuel consisting of 30% biodiesel (vegetable oil) mixed with diesel (petroleum). Furthermore, the program to increase the use of vegetable oil as fuel (energy) will continue, and it is called B50 (Biodiesel 50%). Essentially, I just want to convey; there are ways to conserve petroleum. I think this might make the transition process longer: from non-renewable energy sources (in this case, petroleum) to renewable energy sources, or allow oil dominance in the world to persist for quite some time.

[cryptosize]

There is no "green era." Global oil consumption keeps hitting record highs every year. The "transition" exists only in press releases, not reality.

Every wind turbine, solar panel, and EV battery is built, shipped, and maintained with hydrocarbons. There's no wind turbine factory powered by wind. The whole "green movement" sits on an oil foundation its advocates pretend doesn't exist.

Billions in the developing world have no path out of poverty without cheap hydrocarbons, and no amount of Western carbonhysteria changes thermodynamics.

So far, yes, but imagine a world where all countries are electrically interconnected (the equivalent of internet for energy), all energy is produced by solar/wind/hydro/geothermal, excess energy production (i.e. solar panels during the noon) is turned into BTC (think of it as a "battery" as Saylor has said, but without toxic elements such as lithium/lead, no need to replace batteries every 10 years and the added bonus of appreciation over time) and when a country has a deficit (since renewables don't work 24/7/365), they can import energy from another country and pay in BTC.

Think out of the box: BTC is a crucial part of the equation if they truly want to achieve Net Zero by 2050.

Dedollarization will go along with de-petroleum-ization in the post-oil era.

Renewables + BTC can definitely replace the petrodollar, if there's a will (especially by China).

[Cheema02]

Nothing will be replaced by renewable energy, oil will remain the best choice for modern life, renewable energy is only a simple solution but will not be able to meet all the energy demands of society, we know that many operations require oil even the power plant itself (among them), we need to measure how much renewable energy can be produced to meet the needs? will the price remain in accordance with the capital and results obtained, if the financing for making renewable energy is much more expensive or only has a small difference then there is no difference.

Your point highlights the actual concern related to cost and reliability and in this way oil is the best option. In many countries electricity demands can be meet with some renewable sources and in energy sector not only production is matter but along with storage and grid management is very important. So the main role of oil is in transport sector so in power sector the role of oil is less than transport sector. if we compare cost of renewable and non renewable resources we found that renewable resources required high investment initially but its operational cost is very low as compared to non renewable and also oil prices is very unstable now a days. oil energy is not completely replaced but the combination of renewable and oil is the actual solution of future energy needs.

[BlackHatCoiner]

So far, yes, but imagine a world where all countries are electrically interconnected (the equivalent of internet for energy), all energy is produced by solar/wind/hydro/geothermal, excess energy production (i.e. solar panels during the noon) is turned into BTC

This is a fantastic world, but so far, relying on solar/wind/hydro for powering civilization is only a fantasy. The fact that "green energy" is primarily funded by governments because it fails the market test, only proves how unreliable they are at scale.

If they were cheaper and more reliable, the market would have already naturally moved over them and no government subsidies would be needed for them to survive, but reality is that the countries with low hydrocarbon usage are poor. 

The reason why the fiat bankers and World Economic Forum want us to consider green energy, is not because it is superior to hydrocarbons, but because normalizing being poor hides inflation. There is no inflation when eating soy burgers and processed garbage instead of red meat!

[SatoPrincess]

I prefer countries using other things.to survive their economy than oil. Many countries Plus my own will not survive without oil and because of this oil things are very cost and inflation is very high. Because the Oil price in the international market determine the price goods and services in the world. Right now oil price international market is about $100 and coming to the local fuel price is $1 and for that goods and and services are on the outrageous rate.

I would argue that today’s world wouldn’t survive without oil. Isn’t that what the wars have been about? Oil. While renewables are an environmentally friendly alternative to crude oil and reduce carbon emissions, it is not exactly carbon free rather you would find that the pollution is exported abroad most likely in poor countries where mining and manufacturing is done.

[BALIK]

Before there was discovering of crude oil their where other things that were dominating and making huge amount of money but when crude oil was discovered those things stop dominating and crude oil started leading in the world market and countries that has this crude oil started making huge amount of money from it example is my country Nigeria because of crude oil discovering in my country a lot of other resources were abandoned and the focused only on crude oil a time will come when crude oil will not be relevant anymore because other things has been discovered that will replace or do the work that crude oil usually do you can see right now we have electric cars and we can also generate electricity from wind and sun and this can lead to the end of crude oil in the future not that crude oil will not be in existence or will not be sold in the world market anymore or used, but the value will reduce because other things that can perform or do the things it does has been discovered and produced and they are using it and it's working perfectly.

Do you know when crude oil was discovered and first used in the economy? Before the advent of crude oil, what resources dominated and helped the economy operate and grow as it does today?
It is no coincidence that oil is considered the lifeblood of the global economy. Crude oil is not just a financial product, it is also the fuel that powers global transportation, manufacturing, and supply chains.

Since the world economy transitioned from an agricultural to an industrial stage, crude oil has played a more crucial role than any other resource. Therefore, replacing it will not be as simple as you or many others think.

I do not know if renewable energy sources can replace crude oil in the distant future. But in the near future, that is an impossible task.

[beerlover]

Before there was discovering of crude oil their where other things that were dominating and making huge amount of money but when crude oil was discovered those things stop dominating and crude oil started leading in the world market and countries that has this crude oil started making huge amount of money from it example is my country Nigeria because of crude oil discovering in my country a lot of other resources were abandoned and the focused only on crude oil a time will come when crude oil will not be relevant anymore because other things has been discovered that will replace or do the work that crude oil usually do you can see right now we have electric cars and we can also generate electricity from wind and sun and this can lead to the end of crude oil in the future not that crude oil will not be in existence or will not be sold in the world market anymore or used, but the value will reduce because other things that can perform or do the things it does has been discovered and produced and they are using it and it's working perfectly.

To be fair Venezuela has the most of it, and they have not built great refineries that would make it work and get the nation richer. Saudis and Iran made a ton of money from it, whereas Venezuela has it but still normal citizens are living in poverty, when they could have been richer. All they had to do was spend some billions, to build places to refine that oil, and then ship it via their ports.

And they did not, hell USA is right over there, they could have taken investors and even sell it to USA if they did that, and with the amount of money they could make from that, they would have been richer than any other Latin American country. Sometimes things just d onto work out, so even if you do have oil, you do not always end up rich.

[RockBell]

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.

Absolutely, there are many countries now that only depends on oil as a major source of their income and their energy generation is also depend on it. I'm pretty sure that the world or technology may change anytime thatt the world will no longer depend on the oil as primary source again. some countries like Nigeria have other natural resources that can boost their economy but they ignore it and focus only on oil, and they can also get energy from non oil other sources of energy which they also not prepare to build their nation on that. As stable nation, as they are moving they should always prepare and thinking of advancing their survival that will be matching with any era of technological advancement.

There a lot of them that the only thing that is keep them now and that there economy is growing so there dependency is just on oil and every country depending on oil are making good money and what now is the problem most of this countries is just management and when the management is not taking seriously then there is going to be a big problem because the government especially the corrupt onces will end up embezzling government funds, and the Nigeria case is one of those that make money from oil but the country is not feeling the change at all because for a very long time there is going to be dependency on oil and nothing is going to be changing that and we need to be equally prepared for the worst because with all the generation nothing as changed over the years the interest of the people is nothing to them.

[tygeade]

To be fair Venezuela has the most of it, and they have not built great refineries that would make it work and get the nation richer. Saudis and Iran made a ton of money from it, whereas Venezuela has it but still normal citizens are living in poverty, when they could have been richer. All they had to do was spend some billions, to build places to refine that oil, and then ship it via their ports.

And they did not, hell USA is right over there, they could have taken investors and even sell it to USA if they did that, and with the amount of money they could make from that, they would have been richer than any other Latin American country. Sometimes things just d onto work out, so even if you do have oil, you do not always end up rich.

It is not about not doing it, they have tried it, and there are even places for it there too. The difference is that it would require a lot of capital beforehand to get it all out, and then refine and then sell. This is not something small we are talking about, if you wanted to take al of it out and then refine and sell, that would be a trillion dollars beforehand, probably more.

That is why they do small by small first, with small investments, and then take some bit out, make some small profit, and use that to build more, but that takes time and it is not good because the nation needs more, so every time they make a small profit, it goes to feed people and not make them go starving on the streets. Which did happen before as we all remember.

[DrBeer]

Before there was discovering of crude oil their where other things that were dominating and making huge amount of money but when crude oil was discovered those things stop dominating and crude oil started leading in the world market and countries that has this crude oil started making huge amount of money from it example is my country Nigeria because of crude oil discovering in my country a lot of other resources were abandoned and the focused only on crude oil a time will come when crude oil will not be relevant anymore because other things has been discovered that will replace or do the work that crude oil usually do you can see right now we have electric cars and we can also generate electricity from wind and sun and this can lead to the end of crude oil in the future not that crude oil will not be in existence or will not be sold in the world market anymore or used, but the value will reduce because other things that can perform or do the things it does has been discovered and produced and they are using it and it's working perfectly.

To be fair Venezuela has the most of it, and they have not built great refineries that would make it work and get the nation richer. Saudis and Iran made a ton of money from it, whereas Venezuela has it but still normal citizens are living in poverty, when they could have been richer. All they had to do was spend some billions, to build places to refine that oil, and then ship it via their ports.

And they did not, hell USA is right over there, they could have taken investors and even sell it to USA if they did that, and with the amount of money they could make from that, they would have been richer than any other Latin American country. Sometimes things just d onto work out, so even if you do have oil, you do not always end up rich.

The situation there is a bit different. For some time, the oil industry was developing rapidly, thanks to funding from Western companies that were granted the right to extract oil there. They built the infrastructure. But… later, all of that was “expropriated”—or, as they called it, “nationalized”—along with all those enterprises. But... simply taking what belongs to others doesn’t mean using it effectively, which is what we saw later...
But there’s another problem. On the one hand, Venezuela has truly massive oil reserves. BUT... all this oil is classified as so-called “extra-heavy.”

And that means:
-it is sour crude
-it contains many impurities (metals, asphaltenes)

This leads to:
-the need for deep purification (desulfurization)
-accelerated equipment wear
-It also means that refining it is significantly more difficult than “light crude”

Not every refinery is suitable for this. To process such oil, plants are needed with:
-coking
-hydrocracking
-complex deep processing

Such refineries:
-are expensive
-and are not found everywhere. But...there are many in the U.S., and they were originally designed specifically for this type of oil... As we understand it, after “nationalization,” Venezuela was left on its own with its oil...

[Rabata]

What I observe is that the importance of oil is as important as ever and will be in the future. It's use may be much less than before. But it will definitely be used in important areas. In the past, oil was relied upon for everything, but now renewable energy is making a significant contribution. Although it was previously used as a solution for small tasks, these renewable energy sources are now part of large tasks as well. In developed countries, renewable energy is already being used in all those places instead of oil. Countries like China and Germany are now trying to get a large part of their total electricity generation from renewable energy sources. Oil may not be replaced fully in the future, but the widespread use of renewable energy will increase.

[Doll2233]

Your point highlights the actual concern related to cost and reliability and in this way oil is the best option. In many countries electricity demands can be meet with some renewable sources and in energy sector not only production is matter but along with storage and grid management is very important. So the main role of oil is in transport sector so in power sector the role of oil is less than transport sector. if we compare cost of renewable and non renewable resources we found that renewable resources required high investment initially but its operational cost is very low as compared to non renewable and also oil prices is very unstable now a days. oil energy is not completely replaced but the combination of renewable and oil is the actual solution of future energy needs.

There are so many oil producing Nations like UAE saudia they are investing millions and billions of dollars into their other industries like tourism , technology so they are not only relying on the oil. Oil is not going to disappear in the upcoming decades but it's role is going to change as countries are moving toward more clean substitutes. Large ships, planes they are not going to rely on batteries it will be difficult for them. It is basically considered misconception that oil will disappeared when renewable resources like wind and solar is going to take over the world. Oil is still there and it is the backbone of the petrochemical industry of the world.
It is a possibility that oil might lose its current status in the upcoming world as a primary source of transport fuel but its importance and role will still be there as industrial strategic resource and it will be used as a pillar of global power.

[Bigthraex]

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.

Absolutely, there are many countries now that only depends on oil as a major source of their income and their energy generation is also depend on it. I'm pretty sure that the world or technology may change anytime thatt the world will no longer depend on the oil as primary source again. some countries like Nigeria have other natural resources that can boost their economy but they ignore it and focus only on oil, and they can also get energy from non oil other sources of energy which they also not prepare to build their nation on that. As stable nation, as they are moving they should always prepare and thinking of advancing their survival that will be matching with any era of technological advancement.

Oil domination may not be forever like it has been, but the world needs it and still depend on it for aviation, manufacturing, transport and other sectors. I don't think many nations are completely ready to replace oil even though renewable energy is growing rapidly. I think the question should be if the countries that depend on oil are prepared enough for the change to renewable energy and not if oil can will disappear overnight.

Countries like Nigeria has depended on oil the most for a long time, without fully building and growing other sectors which is a big risk. Nigeria is blessed with good land for agriculture, minerals, and people who can help grow the economy. It will be a wise and safe decision to use money from oil to invest and build education, infrastructure, renewable energy and other innovative sectors before the demand for oil globally drops.