Recent surge in Crude Oil prices had taught a great lesson to the World that global countries should depend less on fossil oil and gas resources.
So globally initiatives and capital expenditure going on high scale to promote Electric Vehicle, Nuclear Power generation and Renewable Energy initiatives.
OPEC countries will be in deep trouble as they depend mainly on selling oil to global countries.
National income of OPEC countries will drastically reduce by 2024.
Just imagine if 10 million people start using electric vehicles instead of petrol and diesel engines, then what will happen?
On an average 40 liters of petrol will be consumption per month and so per year it will be 480 liters. So let us assume one electric car will save 500 liters of petrol.
10 Million cars * 50 liters = 500 Million liters.
Actually by 2024 more than 10 million electric vehicles will be there globally and also along with them electric 2 wheelers (bikes and scooters).
Considering bikes, autos, scooters saving of petrol number will increase from 500 million liters to minimum of 700 million liters.
So when demand reduces generally crude oil prices will fall.
Then OPEC countries revenue will reduce drastically by 2024 or 2025.
Even most of trains will run on electricity.