The argument for high oil and gas costs sticking around this time is that the producers have realized they'll be effectively wiped out in 20-30 years, assuming

The argument for high oil and gas costs sticking around this time is that the producers have realized they'll be effectively wiped out in 20-30 years, assuming we get anywhere close to meeting climate goals. There will always be a need for oil and gas but if it's not being used for most heating, transportation, or electricity generation that demand will be a pittance of what they get today. This realization has led them to essentially halt new production and lean hard in to scarcity to get all they can out of a dying market, even if doing so makes that market die faster.