[D_Alex]

Yes it does. Consider too that after kerosene whaling declined while world population, wealth and demand for lighting grew rapidly.

Also, kerosene for lanterns became a thing in 1846, not 1865 as claimed in the article, and by 1856 was already widespread. Wikipedia has this to say about its impact:

As kerosene production increased, whaling declined. The American whaling fleet, which had been steadily growing for 50 years, reached its all-time peak of 199 ships in 1858. By 1860, just two years later, the fleet had dropped to 167 ships. The Civil War cut into American whaling temporarily, but only 105 whaling ships returned to sea in 1866, the first full year of peace, and that number dwindled until only 39 American ships set out to hunt whales in 1876.[36] Kerosene, made first from coal and oil shale, then from petroleum, had largely taken over whaling's lucrative market in lamp oil.