Agreements and pacts. The video “What’s Going to Happen with Oil?” shows this. With electric vehicles becoming increasingly commonplace, it’s quite possible that all of us will have them.
Renewable energy sources have been gaining popularity instead of oil. It is due to the fact that renewable sources of energy do not harm our environment as than its oil counterpart.
The oil market is a popular commodity, in spite of its concerns. It is not likely to alter in the near future. Competition from different sources of energy provides it with an advantage over other sources and it’s likely to be difficult to reverse this trend, if it ever happens. Oil can only be used as a source of energy, and its prices stabilized if the global market balances both demand and supply. Oil producers will try to undermine their profitability, and there could times of high supply as well as low prices. 2wdk2xu8eq.