How did the scarcity of blubber from whales change the economy?

Question

If you correctly understand this question and answer ... how will the scarcity of dead rotton dinasour remains (oil) change the economy in the future (yes, forcasting!!!)

Answer 1

In order to save the great whales, in 1986 IWC has a moratorium on commercial whaling. Since supply were curtailed, alternative means were founded in Jojoba oil.

In the case of oil from fossils, the supply are limited, and the OPEC are controlling the majority of the world's output. But the demand are increasing. With decreasing supplies, and increasing demands, the price of oil are increasing. We have alternative source in solar and wind power, but the oil price is still not high enough for its commercial use. We have ethanol (I think) from corn oil.
We have hybrid cars to lessen the dependency on oil. And of course, nuclear power which is cleaner and cheaper than oil, which is not being use more widely because of political reasons.

Answer 2

The lack of whale based oil increased the price of the commodity, doing so made it potentially profitable to try an alternative the alternative became Kerosene and Kerosene lamps end up creating the path for the oil based economy we have today.

As for the second part of your question, oil does not come from the remains of dinosaurs, oil is derived from the plants that existed during the carboniferous period long before the dinosaurs ever evolved. The scarcity of oil will likely increase the price to levels were it becomes profitable to develop competing technologies.