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Oil to be priced at $15 in the future-II: Rapid adaption of new technology to keep demand low
May 31: The most important aspect of this argument is that demand for oil will fall even when there is an increase in car ownership and higher energy offtake by developing countries.
8It is claimed that the same technological advancements which will allow for a fall in demand for oil in advanced countries will also work for developing countries, Just as new technology – such as mobile phones and smartphones – has been immediately embraced by rich and poor countries, cost effective technological changes such as the use of renewable energy and electric cars will also spread widely everywhere, leading to a decrease in the demand for fossil fuels, including oil.
8It has been seen that historically new cost effective technology is quickly put into work everywhere, and this time around too, it will not be an exception.Click on Report for more.


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