/biz/ - Business & Finance

>>18766904
If oil is cheap then the industry goes bankrupt, if oil is expensive the industry still goes bankrupt because they need oil at $200/barrel+ to actually make money which would destroy consumers and the global economy

It's over for the oil industry, and I work for the oil industry kek I see this shit first hand

I would only invest in large established companies, the smaller companies are prone to bankruptcy, plus it seems like society is becoming serious with the "green" energy meme and the large oil companies have the money to switch over.

Oil isn't really that profitable anymore, the industry is experiencing diminishing returns.

It won't run out it'll just be too expensive to extract, with current oil prices this is already the case. Conventional oil production peaked in 2005 and all recent expansion has been with unconventional sources which require high prices to be feasible.

Expect a supply restriction when the American oil production drops which will cause the price to skyrocket and expansion to resume, wild price fluctuations will become the norm.

The restricted oil supply and high prices will bottleneck economic growth and meme(green) energy will struggle to replace it, leading to poor economic growth decreasing prosperity.

Oil cucks BTFO

Where were you when you realized the oil industry is on its last legs?