As far as I can tell, the contingency plan is to continue pushing places like Dubai as a tourist destination and business hub. And, honestly, as long as that place continues to function as a major regional air-traffic hub, that might actually work.
I know some petrochemical engineers, analysts, and a tribologist. I asked them about exactly this. Their responses, to a one, is: the oil will not run out; it will just become too expensive to extract. Now, I’m just some jerkwad on the internet, and my anecdote is only that.
Yep. There’s a lot more oil in the ground than oil we could pull out at today’s prices with today’s technology. And then with competition from cheaper renewables you have the question of if prices can stay this high forever, or if demand will go down sharply while the supply remains.
The end result is still that you get a peak oil production at some point, though.
They can try, but they don’t really have the massive advantages there. With oil they basically get >1000% margins because it’s just there and ready to be tapped, and their whole societal structure is based around spending that money like it’s water.
The gulf monarchies’ oil will dry up, and they will collapse under their own weight.
… Probably not. But hey, a man can dream…
Upvoted for the only optimistic shit I’ve read so far
Too many western predictions :shrug: We’re already at rock bottom here, only positive news (incredibly rare)
As far as I can tell, the contingency plan is to continue pushing places like Dubai as a tourist destination and business hub. And, honestly, as long as that place continues to function as a major regional air-traffic hub, that might actually work.
I know some petrochemical engineers, analysts, and a tribologist. I asked them about exactly this. Their responses, to a one, is: the oil will not run out; it will just become too expensive to extract. Now, I’m just some jerkwad on the internet, and my anecdote is only that.
Yeah. I hope it will still affect them though.
Yep. There’s a lot more oil in the ground than oil we could pull out at today’s prices with today’s technology. And then with competition from cheaper renewables you have the question of if prices can stay this high forever, or if demand will go down sharply while the supply remains.
The end result is still that you get a peak oil production at some point, though.
They’re pushing massively into green energy. I think they are the next biggest investors after China if I remember correctly.
Yeah, they talk about it all the time here.
Here’s to hoping for their collapse 🥂
They can try, but they don’t really have the massive advantages there. With oil they basically get >1000% margins because it’s just there and ready to be tapped, and their whole societal structure is based around spending that money like it’s water.