Thread by @Noahpinion

Today's @bopinion post is about an epochal change that will soon happen to American society: The end of the Age of Oil.

bloomberg.com/opinion/articl…

Electric vehicles are going to take over the world.

Some forecasts see peak oil happening as soon as 4 years from now. Not from lack of supply, but from lack of demand.

This is going to hurt Big Oil.

And it's going to hurt the network of suppliers and service companies centered around Big Oil.

And it's going to hurt Texas.

houstonchronicle.com/business/energ…

Now, Texas is less dependent on oil than it used to be.

And oil isn't going to vanish. We'll still need it for plastics. And for jet fuel and ship fuel, at least for a while.

But it's going to contract in a big way, and that's going to hurt.

If things go as usual, knowledge workers and tech hubs will adjust smoothly to the shrinking of the oil industry.

But if things go as usual, lower-skilled workers and small towns will NOT adjust smoothly.

What can we do to help them?

There are a few things we can do, but it's going to be tough.

The death of a major industry is never an easy or a pretty thing.

But for the good of the planet, oil must die. Or at least shrink enormously.

And we have to be ready to pick up the pieces.

(end)

bloomberg.com/opinion/articl…