A few recent trends got me thinking that we might be seeing a “last gasp” for oil lovers and apologists as they try to cling onto their oil-related wealth and cultural inertia.
Product adoption always seems to follow this “S” curve. From flip phones to CRT monitors consumers do one very predictable thing first of all. They begin the process of abandoning the legacy technology. They don’t buy the flat screen TV first, they stop buying the Console TV first.US sales of new IC vehicles are down 20% since 2018
I put the key part for this article in bold. It’s a very good point, and one not often thought about or discussed. People stop buying the old techthan they start buying the new tech, because who wants to be left with some old, out-of-date, low-value tech? Also, perhaps they are expecting prices to come down on the new tech soon and drag out their ownership of the old tech a little longer than they normally would in a stable market.