Originally Posted by han sala
The Oil Companies would go out of business, which is also bad for the government. There is no way they would allow it to happen unless they could profit from it.
Actually, oil companies are not so foolish as to limit their options. Oil companies are not about producing oil and supplying a nice demand. Oil companies are about producing profit. They will sell whatever turns the most profit for them. If solar energy provides bigger revenues than oil, they'll do it. There are several oil companies that are investing in wind power because putting up wind farms generates them more money then drilling, processing and shipping oil products.
So yes, nothing will happen until oil companies feel there is more profit in non-oil-based tech than oil. However, with the rising cost of oil, non-oil-tech is starting to look better every day.