Biden Fossil Fuel Strategy = Death of Oklahoma Oil Industry?
- Thread starter shon46
- Start date
We shall see. If it is a long term thing, it could happen. (I'm sure there will be layoffs, in fact, some have already started.) But automobiles, semis, buses, and trains will not soon pass into nonexistance. Nor will natural gas heat. In fact, electric outages are more common than gas outages. You could get a generator, but what would it run on.
Unfortunately, long-term it isn't about Biden. It is about peak demand. In the next 30-40 years, oil will have a huge, huge decline in demand as EVs become the dominant force in transportation. It is inevitable, especially as solar takes off and the prices of batteries continue to fall. This is similar to the transition from steam to combustion but we are holding on like the idiots in WV are to coal.
Unfortunately (at least for our state) I don’t believe Biden’s plan will be a 30 to 40 year plan. I look for him to take extreme measures to decrease US oil and gas production during the next four years. Energy prices will go up as will everything else which is tied to the same...which is practically everything. I also expect a middle class tax increase (in addition to the increase energy prices) in order to fund his “green” agenda. I fully expect his pledge of no tax increase for those making under $400k to be broken his first year. We shall see
