The Keystone pipeline is not needed right now

Will it be needed at some point in the near or far future? That's hard to say.

Will Oil be as big a thing the rest of this century that it was since 1900?

That's hard to say too.

But, what's easy to say is the demand for oil is way down worldwide. And because of it there is an oil glut with oil tanks filled to the brim everywhere on earth.

So, the biggest problem right now is making enough money selling oil to continue to afford selling it for oil businesses around the world.

So, as oil drillers and shale oil miners go out of business one by one around the world during this low price time (caused by China's recession and the wars in the middle east), it is possible that low oil prices will continue for 1, 2, 5, or even 10 years before they go up once again. And by then most oil drillers and shale oil miners are likely going to be out of business worldwide.

So, what happens whenever that happens?

The likelihood is that prices will spike way up until drillers and shale oil miners once again take up the slack but this could be really bad for a few years until drillers and shale oil miners get re-capitalized which also might be hard if they already went bankrupt and lost their credit 1 to 10 years before this point. So, getting back into business and getting up to speed might take 5 years time until prices settle down once again to a normal price. In the meantime catastrophic harm to the 50% poorest nations on earth might have been done by really high oil prices during these times.

So, it behooves all nations to go wind and solar and renewable energy so they don't go bankrupt when this super high price time for oil comes.