It’s hard to know the future. People’s habits are hard to change. But, sometimes there’s a change that’s significant enough and people don’t go back.
In the current world where people were already switching to photovoltaics and EVs before the crisis, it’s easy to imagine that a lot of people who switch because of the crisis won’t be going back if oil gets cheap again.
Also, from what I’ve read, each week that the Straight of Hormuz is closed will take about a month for things to get back to normal. So, at this point, we’re already talking years before things could go back to normal. Plus, if this results in another major recession, by the time the economy comes back it might look completely different.
It’s hard to know the future. People’s habits are hard to change. But, sometimes there’s a change that’s significant enough and people don’t go back.
In the current world where people were already switching to photovoltaics and EVs before the crisis, it’s easy to imagine that a lot of people who switch because of the crisis won’t be going back if oil gets cheap again.
Also, from what I’ve read, each week that the Straight of Hormuz is closed will take about a month for things to get back to normal. So, at this point, we’re already talking years before things could go back to normal. Plus, if this results in another major recession, by the time the economy comes back it might look completely different.