What ever happened to peak oil? The world is now swimming in oil with fracking procedures. And that in spite of Iran is constrained to sell and Venezuela is a mess.
I have a collection of NatGeo back to the 40s. I love reading those articles from the 70s that foretold the end of petroleum.
Of course the hidden dividend of fracking (and the corresponding Energy Independence of the US) is that we don’t need to send our sons and daughters to die in the desert halfway around the world to protect someone else’s oil. Syria, Afghanistan, Iraq, Iran, etc.