this post was submitted on 24 Apr 2026
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‘The damage is done’: global oil crisis has changed fossil fuel industry for ever, IEA chief says (www.theguardian.com)
submitted 2 weeks ago by kudra@sh.itjust.works to c/energy@slrpnk.net
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"The oil crisis triggered by the Iran war has changed the fossil fuel industry for ever, turning countries away from fossil fuels to secure energy supplies, the world’s leading energy economist said."

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[–] Einskjaldi@lemmy.world 1 points 2 weeks ago

Petrochemical industry should be the last thing using oil in decades because it actually needs the exact chemical feedstock. But with declining demand there sound be enough oil wells in existence to keep enough supply to match the declining demand decrease slowly over time.