It is not happening.
US oil consumption 2023 was +0.6%. China was +10% (!). China is the big EV Mecca but oil gets burned anyway.
The world now consumes over 100 million barrels/day.
The question of “how long can this go on” is not a climate question. It is a question of how long will the planet run out — and the wackos about to say it replenishes itself . . . not a single one of you has gone out to buy Plug&Abandon empty oil wells on presumption it has refilled.
Not only petroleum consumption continues to increase. So does coal and natural gas.
While we reduce the amount of coal we burn here in the USA, India and China are increasing.
India is now the largest importer of US coal. Trains leave WY and other mines everyday going to Tacoma. To be loaded on a vessel to India and to some extent China.
Although China gets more coal from Australia, Malaysia and Indonesia. China actually burns mostly its own coal. Although it is not as good as the coal from other sources.