Oil Rich Countries Should Start Thinking Of Other Revenue Sources As 2020 Proves That The Future Is Electric

Aggrevated the situation, yes. Caused it, no. The US sanctions started in 2017. Remember that Chavez died in 2013. The problems began even before Chavez died.

Back then the battery tech was shit too. It took hours to fully charge a battery. Those who claim that oil will phased out completely forget that the petrochemicals industry does exist.

The asphalt roads we drive on has a binding material that comes from crude oil. Our plastic and tires come from crude oil. It will be another 60 years before we completely move on.

The industry has no future and will no longer as big as it was once the developed countries transition fully to electric cars by 2040. Industrial uses for oil account for only a quarter of consumption.

4 years time…