Bad news for the oil industry, but good news for the environment. People are turning away from oil and into greener energy sources.

China, one of the epicenters of the fall, is constructing new subway lines across its provinces and its people are becoming more aware of environmental problems. Even as vehicle sales fall, Tesla has actually sold well in China: https://ir.tesla.com/static-files/1e70a30c-20a7-48b3-a1f6-696a7c517959