As I’ve said for a long time here, you cannot power modern civilization on wind, solar, and unicorn flatulence. Great example of that in this article.
Correct - it cannot be just wind and solar — the power grid needs a diversified source base - hydropower, coal, natural gas, nuclear, wind, solar, bio etc.
Low-emission sources (renewables + nuclear) are projected to reach 50% of global electricity generation by 2030. This will help us IN CONJUNCTION WITH gas / coal etc.
I see this as:
1. breaking the back of the Saudis etc. who rely on oil revenues to sponsor jihadiism
2. making oil cheaper so that the other products from hydrocarbons (plastics etc.) can get cheaper or even more innovative uses.
3. Eliminating the ability of oil states like the ME or Russia from holding the world economy hostage