Oil is also used to make plastics, chemicals and jet fuel, and since jet fuel can't melt steel beams is not going to be replaced any time soon, they will still have some use.
As far as i know, there aren't many power plants anymore that generate electricity from oil, (electric cars need electricity too, so if for example 100% of our electricity would come from oil, then they would in fact be more polluting than regular cars).
If enough electric cars are being used and replace petrol cars, the price of oil might go down and this might have an impact on jet fuel and therefore also on plane tickets (fuel is a large part of the ticket price).
As far as i know, there aren't many power plants anymore that generate electricity from oil, (electric cars need electricity too, so if for example 100% of our electricity would come from oil, then they would in fact be more polluting than regular cars).
If enough electric cars are being used and replace petrol cars, the price of oil might go down and this might have an impact on jet fuel and therefore also on plane tickets (fuel is a large part of the ticket price).
Airlines try to squeeze the maximum they can from customers. Crude prices have dropped to a third from their peak. Although fuel costs form a large part of the ticket price, I haven't seen flight ticket prices drop substantially.
well yes, they won't change prices if they don't have to, but if fuel prices remain low for long enough the competition between airlines will eventually cause ticket prices to drop.
also note that the oil price and the jet fuel price might not change at the same speed, because airlines often get contracts for months or even years for fixed rates on fuel.
If fuel price rises in the next few years the airlines might benefit from a fixed fuel price contract, but the flip side is that if the fuel price lowers than the airlines are forced to pay for overpriced fuel because they are contractually bound to take X amount of fuel a month by that company for an agreed upon price.
