Business
‘Peak oil’ set to arrive sooner than we think if Biden wins – Sydney Morning Herald
Big Oil has seen the writing on the wall as demand continue to slide. A Biden victory would likely make the moment of “peak oil” arrive even sooner.
A second Trump term might slow the process there wouldnt be the same investment in alternative energy, more federal land would be opened to fracking and more offshore waters to deep sea drilling and the US definitely wouldnt recommit to the Paris accord but it wouldnt change the course of history.
The pandemic has already probably brought the point at which demand for oil (peak oil used to refer to a peak in supply, now it relates to a peak in demand) begins to slide.
The damage and likely permanent…
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