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comment by WanderingEng
WanderingEng  ·  1875 days ago  ·  link  ·    ·  parent  ·  post: Oil Wager Complete

    What will happen to demand, however, if wind and solar keep falling in price?

I think batteries are the more important piece here. If battery prices drop an order of magnitude, oil use for transportation will see a long, slow death as more and more vehicles move to electric. Very little oil is used in electric generation. One of oil's key benefits is its energy density. While batteries aren't close to matching that density, if they're cheap enough, it won't matter.