> Of the 7.13 billion barrels of total U.S. petroleum product consumption in 2015, 47% was motor gasoline (includes ethanol), 20% was distillate fuel (heating oil and diesel fuel), and 8% was jet fuel, 4% plastics.[1]
Jet fuel is only 8% so if there is less auto usage, probably cheaper initially until supply is constrained due to lower demand. Then, other methods will start to get cheaper like wood to fuel[2].
But overall fuel and heating oil are about 70-80% of all oil use, we still use it for plastics which will be hard to get rid of which are 4% of usage. My guess is initially both jet fuel and plastic production prices will go down when autos are electric, at least initially.
Jet fuel is only 8% so if there is less auto usage, probably cheaper initially until supply is constrained due to lower demand. Then, other methods will start to get cheaper like wood to fuel[2].
But overall fuel and heating oil are about 70-80% of all oil use, we still use it for plastics which will be hard to get rid of which are 4% of usage. My guess is initially both jet fuel and plastic production prices will go down when autos are electric, at least initially.
[1] https://www.eia.gov/tools/faqs/faq.cfm?id=41&t=6
[2] http://www.denverpost.com/2016/11/14/first-commercial-flight...