What claim does the text make about the demand for petroleum?

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Companies involved in petroleum extraction include storage facilities among their assets. But petroleum extraction is a very carbon-intensive industry, so as renewable energy becomes more economically competitive, demand for petroleum falls and the storage facilities will eventually, or even suddenly, become liabilities as reduced petroleum prices make it more difficult to recover the expense of maintaining such facilities.

The competition from renewable energy is a factor in the demand for petroleum.

Companies involved in petroleum extraction can benefit from a decline in the demand for petroleum.

The demand for petroleum follows a predictable annual cycle.

Companies involved in petroleum extraction are not affected by the demand for petroleum.