Doomberg has this theory that worldwide consumption of a source of energy never decreases, any fossil fuels extracted will be burned somewhere, and green regulations or subsidies just shift around who does the burning. Adding new sources of energy to the mix only reduces the rate of growth in fossil fuel consumption, but it still goes up.
Oil consumption didn't reduce coal consumption, it just added a new energy type. Same for natural gas.
So far they've been right. Decreased coal usage in developed countries has been offset by increased coal usage, of the now cheaper coal, in developing countries. German electric consumers are effectively subsidizing Chinese and Indian consumers.
Eventually that will turn around, if only because we start running out of fossil fuels, and the thesis will fall apart. But it will take far longer than we have, and we have far more fossil fuels than we can afford to extract and burn. That means the ONLY way to address climate change, which is a global problem, is through technological innovation. Regulation is a dead end, and just looking at the track record of regulation so far, it's hard to deny that.
That means making green alternatives that are better, and we're making some good progress on that. Electric cars are better in most ways for most uses except price. Solve that last one and they'll quickly displace combustion vehicles for most uses. Range is already good enough most of the time for most of the people.
It may also mean doing some geoengineering to soften the impact of global warming that will continue for multiple centuries if we don't intervene.