“The world demand for oil should continue to fall.”
We don’t use oil for electricity.
What I mean is that China (a big chunk of the world demand) is going to use less oil by converting to coal fired electric ones.
As a smart guy on CNBC once said “China has central planning by scientists, engineers, and mathematicians and the US has central planning by lawyers. Neither is good, but by definition we lose.”
Jimmy’s push to move electrical generation to coal succeeded for three decades without complaint. Thank those 70’s oil embargoes for that move.
He also buried prospects for reprocess of nuclear fuel. Those fuel assemblies in the storage ponds still retain ninety-five percent unburned fuel content. A treasure trove awaiting use in the molten salt reactors yet to be built.