Well that’s the thing. New technologies unlocked new deposits that we couldnt access before, but the price to extract it kept going up. There will always be more oil somewhere the issue just becomes if it’s economical to get to it. So far since 2018 we’ve seen no new discoveries or breakthroughs that could prop it up longer. It seems like it’s on the decline now. Even if we find a way to get more hard to access oil zones the cost will be even higher. So nations that are reliant on oil become more and more economically fragile over time.
Well that’s the thing. New technologies unlocked new deposits that we couldnt access before, but the price to extract it kept going up. There will always be more oil somewhere the issue just becomes if it’s economical to get to it. So far since 2018 we’ve seen no new discoveries or breakthroughs that could prop it up longer. It seems like it’s on the decline now. Even if we find a way to get more hard to access oil zones the cost will be even higher. So nations that are reliant on oil become more and more economically fragile over time.