You could be right but I would pose the question on what time frame? Sure we could make the case that renewable energy is going to stamp out demand for oil, but how quickly.
Also there is the supply side of the equation: the less oil produced means higher prices at the same demand. The shift to renewables is occurring but not at a pace to affect the demand over the next year or two in my opinion.
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I think the time frame for renewable to be cheaper than oil/gas to be in 1-2 decades. When that happens, it will become more mainstream but I guess it will be at least a decade long process.
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