The oil industry is not going away. Will single use items like grocery bags change? Yes - probably to a biodegradable material so the oceans don't fill up with it. However, our lives are surrounded by polymers - Your keyboard, the housing on your computer, and your car are mostly made with polymers. However, I do think that producing more of our power needs through solar, wind, and geothermal makes lots of sense. Long haul carriers like planes, trains, trucks and ships will require petroleum based fuels for a long time.
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