Some time ago, societies were concerned with “secure oil resources”, then added “reduce oil consumption”, and now… “is it really needed?”.
What does the petroleum future hold?
I think its consumption will gradually decline in favor of alternatives like electro, fuel cell, nuclear and others.
Same with natural gas. It will be less needed in regions where it can be replaced.
Power efficient nuclear fusion energy has already been produced in the labs. Things could go fast and this energy becomes generally available, a giant leap in human development.
In those times, the oil will be just like the coal, used in places that have no option like antique cars.
Or, suddenly, a miracle, a new engine that consumes 10 times less fuel and does not produce any toxic smoke and is strong and …
I am sure that super efficient petroleum engines could appear one day, which would be a big plus. We just don’t know when.
Also, why no such engine is in use yet?
Really!
We have hybrid ones, but it’s not 10 times less than a non-hybrid.
So, probably the advancement of alternatives is faster than the improvement of the combustion engine.
What do we do now, throw our cars?
No.
Just when you don’t need it anymore.
I think there will be possibilities to either replace the gasoline with something synthetic, or replace the engine and other parts, or replace the car.