50% of oil is used for gasoline and diesel. Natural gas is used for electric power production. Capital investments look at those market and think I can eat their lunch with continuously improving price and performance of EV and grid batteries and renewable energy. EV batteries for low priced EV use LFP, Offer 300 mile range, fast charging up to 124 miles in 5 minutes and an expected life of 1,200,000 miles. Coming soon batteries for EV at half the price of LFP but twice the range, about 50% of the expected life (500,000 miles) and half the fast charge rate. Do you care your 600 mile range EV needs 15 minutes of charge on long trip instead of 7 minutes.
Grid batteries are dropping in price about 50% in 8. Years. Wind and solar electric power cost 1/6 th of natural gas today but is constantly improving in cost and performance.
My guess as long as there is a $10 trillion a year market in play the capital money will flow to even better products until 90% market share is won from fossil fuel.