Earlier quoted context omitted.
Electric cars are helping, but maybe not as much one can be lead to believe. The biggest danger about them is possibly that people may believe they are a big step forward. They are an important but rather small step forward. Electric cars will reduce demand for gasoline. Some people say this won't affect how much oil is pumped out of the ground, because we still need the other fractions. That's not exactly the case t…
I thought the fractions were relatively straightforward to convert to balance demand? I don't really have good intuition for the economics of it though.
I'm not sure if that's the gasoline subsidizing the heavier fractions. It might be the other way around. There would be more heavier fractions available if we didn't crack them, and therefore they'd be cheaper.