Cost of Oil By-Products When We Go Electric

[Broeb22]

While I certainly don't believe we are very close to abandoning internal combustion engines any time soon, I do wonder about some of the businesses that depend on byproducts of oil as an input. In short, I wonder if at some point there will be more demand for the by products than the oil itself. If that is the case, then the costs of extraction fall more heavily on the byproduct (i.e. plastics, specialty chemicals, resins, etc.). What will this do to the cost of some of these products (see links)? Will alternatives come about to displace these?

 

https://www.innovativewealth.com/inflation-monitor/what-products-made-from-petroleum-outside-of-gasoline/

 

https://whgbetc.com/petro-products.pdf