Depends on if those companies invest in renewables or not. Optimistically, they will need to pivot in the next 60 years or so. I expect that the military need for oil won’t go anywhere anytime soon, but there is regulation coming into play to limit automotive oil reliance. Maybe not in the US, but elsewhere.
Well, why not? Any replacement power generation or transportstion systems will require construction and maintenence, just like any other project.
Sure, but that money wouldn’t go to oil and natural gas companies.
… Good?
Depends on if those companies invest in renewables or not. Optimistically, they will need to pivot in the next 60 years or so. I expect that the military need for oil won’t go anywhere anytime soon, but there is regulation coming into play to limit automotive oil reliance. Maybe not in the US, but elsewhere.
and that’s bad why?
hoser has a new video on how Saudi Arabia is getting ready for that part.