[reducesuffering]

Historically, the least bad option in maintaining supply of the fuel of civilization and countering Iran, Russian, and Chinese influence. Such is geopolitics.

[gonzo41]

The next ~30 years are going to be pretty interesting if EV and Green tech scales down oil requirements.

[smegger001]

My guess is the slack in the oil supply will be taken up by other industries as the reduced demand from transport will leave large supply dropping the price for them. So I expect various chemical, plastic, pharmaceutical, pesticide, and fertilizer companies will use all of that oil.

[beerandt]

You already can see companies, eg Shell and Exxon investing heavily in their "chemical complex" refineries, and selling off refineries that only process fuel.

[mkhpalm]

I think a bigger concern these days is how Europe gets natural gas (LNG).

[gampleman]

I suspect that many oil rich countries have been anticipating this development and have been heavily investing elsewhere.

[valuearb]

Oil is a fungible market. The Saudis have to sell it to someone, and selling it to someone besides the US just frees up other suppliers to sell to the US.