Remember that “This Ain’t Your Daddy’s Oil” commercial that blew up on Twitter at this year’s Super Bowl? It was about crude oil being used for things other than fuels—useful, sometimes indispensable things. Like it or not, this is what the future holds for the industry, according to a new report from Wood Mackenzie. The energy consultancy expects that petrochemicals will turn into the top driver for demand growth in crude oil in the long run as fuels lose their top spot. It’s actually demand for petrochemicals that will keep global oil demand growing until about 2035, Wood Mac says, adding that this growth, however, will slow to a crawl by that year. In places like Europe, Japan, the United States, and even China, crude oil consumption will plateau by 2035, while in India, some other Asian states, Africa, Latin America, and the Middle East, it will continue to […]