I have a couple of questions ... about the future of gasoline and crude oil.
1. When Tesla (and others) have built their 10,000,000'th cars, and the world reduces its dependence on "gasoline" by say, 3 billion gallons (12 billion liters, 75m barrels?) per year, ... and climbing ...
a barrel of oil contains layers
including 19.5 gallons of gasoline, 9.2 diesel.
The oil industry will presumably still need to refine for other industries like asphalt, kerosene, etc.
What will happen to the gasoline layer? Will there be a huge glut? Forcing prices down?
The whole goal here is to stop buying barrels ... but if driving electric cars stops the production of "only" half the barrel, will OPEC not continue to pump??
2. On that list, I see no mention of plastics. Are plastics a by-product or a refined product? We'll still need plastics, so presumably refineries will still exist?