It's both. By continuing to tap into supplies, you keep the cost of carbon-producing fuels (and their carbon intensive extraction industries) low enough that t

It's both. By continuing to tap into supplies, you keep the cost of carbon-producing fuels (and their carbon intensive extraction industries) low enough that they remain price competitive with renewables; a price which is further subject to implicit subsidies in the form of negative externalities. This then helps buoy the demand side and slows the transition to alternatives. One way to solve that is through carbon taxes so that the price of externalities is baked into the cost of the product. But the alternative is to simply cut back on extraction in the first place and leave the carbon in the ground. In either case the end result is higher prices at the pump which will push consumption toward renewables.