Eh, 'renewables' (presumably you're thinking of solar and wind-generated electricity) don't really directly compete with oil (at least in the USA). Oil is a neg

Eh, 'renewables' (presumably you're thinking of solar and wind-generated electricity) don't really directly compete with oil (at least in the USA). Oil is a negligible part of our electricity generation mix. This might somewhat delay the switch over to battery-electric vehicles, as it lowers the cost of gasoline/diesel, but that has relatively little to do with renewables, per se, and more to do with the relative costs for electric power (regardless of source) and gasoline/diesel. A secondary effect, however, could be that it temporarily wrecks the fracking industry in the US, eventually leading to much less natural gas production, raising the price of natural gas (and thus being good for wind/solar, which will probably have gradually declining costs for the foreseeable future).