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The amount of profit and money in the oil industry will ensure that it's product remains relevant for as long as possible. If it's not through gasoline, it will be something else.
Meanwhile they'll be doing their best to sabotage and lobby against any competition to make it harder for individuals to even have the opportunity to do the right thing. The change has to come from the top (government mandates) in order for it to have any meaningful impact any time soon.
Both are true. The oil companies will lobby to maintain their position, yes. But you'll also make the choice to drive places when maybe you could cycle