There isn’t plenty of cheap fossil fuel available, it’s becoming more expensive to extract what’s left with each decade that goes by.

The high price of oil is a huge drag on economy, with every spike causing inflation and reducing economic growth.

The USA has already developed technology needed, and renewables are now the cheapest energy source. The countries that scale them up quickly will enjoy smooth economic growth and cheaper energy than ever in history, and the countries that keep using oil will stagnate.