They can do that with a lot of them, but not all. You can’t really sell an oil platform when nobody is buying oil anymore. The “stranded assets” is a huge motivator for fossil industries to prolong the switch to renewables as long as possible. Problem is the governments being complicit. They could have made clear paths from when on no new fossil investments were allowed to create a proper phase out.
How are they going to convert their assets in that scenario? The value of oil will just go down from here on out, eventually it’ll reach a point where it starts going back up again because it’ll be such a hard to acquire commodity for the few people that want it.
Eventually we’ll get to a point where the only people who use oil are rich people who can afford to run vintage cars and presumably pay some kind of carbon offset tax.
And even for vintage cars and stuff, I assume we’ll see better eco friendly and bio fuels being created that could be made in smaller batches without needing to use conventional oil as the fuel. Starting to see more and more of this on aviation already, and even some old warbirds have done recent tests on these fuels and run really well.
Yeah the US Airforce tested all their planes even the stealth bomber on a SAF that can be made from sequestered carbon, they said it passed all tests and that it would be a great way to be fuel independent, they’re especially interested as it seems to look possible to fit carbon capture and processing in a small enough package to fit in an aircraft carrier. Even if manned planes aren’t as useful in future conflicts we’ll likely see drones that use jet fuel replace them.
They will just take all their oil billions and buy up battery companies at the last moment.
They can do that with a lot of them, but not all. You can’t really sell an oil platform when nobody is buying oil anymore. The “stranded assets” is a huge motivator for fossil industries to prolong the switch to renewables as long as possible. Problem is the governments being complicit. They could have made clear paths from when on no new fossil investments were allowed to create a proper phase out.
How are they going to convert their assets in that scenario? The value of oil will just go down from here on out, eventually it’ll reach a point where it starts going back up again because it’ll be such a hard to acquire commodity for the few people that want it.
Eventually we’ll get to a point where the only people who use oil are rich people who can afford to run vintage cars and presumably pay some kind of carbon offset tax.
And even for vintage cars and stuff, I assume we’ll see better eco friendly and bio fuels being created that could be made in smaller batches without needing to use conventional oil as the fuel. Starting to see more and more of this on aviation already, and even some old warbirds have done recent tests on these fuels and run really well.
Yeah the US Airforce tested all their planes even the stealth bomber on a SAF that can be made from sequestered carbon, they said it passed all tests and that it would be a great way to be fuel independent, they’re especially interested as it seems to look possible to fit carbon capture and processing in a small enough package to fit in an aircraft carrier. Even if manned planes aren’t as useful in future conflicts we’ll likely see drones that use jet fuel replace them.