Spot on analysis Gregor Macdonald. The decreased demand for oil and low price overall will influence chemical and sustainability markets as well. Any companies pushing sustainability with the argument that “oil is finite” will likely not be able to withstand the next 10 years of low prices. Solazyme is a great example. I think downstream oil products like gasoline will be a lame duck by 2025–2030 and will continue to sputter to a dead end by 2040. I wrote about this awhile ago as well.
The only question is will oil production capacity be severely reduced in oil producing countries in the next decade or will we continue to see this race to the bottom?