In the 20-year timeframe that would be great (a decarbonized economy), but short-term, it's really important that the US doesn't depend on Saudi Arabia as a sole oil producer, and that means maintaining some level of oil pumping infrastructure

SA, Russia, and Venezuela are not the international players you want to have leverage over US foreign policy. If we let a weird unexpected market rout (like covid) wipe the shale producers out entirely, we really screw ourselves into letting SA call the shots on the world stage. Cuz you know SA and Russia are NOT going to let their pumping capacity collapse.

(To be clear I'm not arguing for a bailout to prevent banks or investors from taking haircuts on the investments — those haircuts have to happen. But "letting all the jobs go" means letting the companies dissolve, vs reorganize, and that's not a good idea, IMO).