It’ll only lower prices by ten dollars per barrel.
RE 21, Rystad Energy, independent energy research and business intelligence company and the biggest independent energy consultancy in Norway, 3/1/2021, "Energy Transition Could Cut Oil Prices By $10 Per Barrel," Oilprice.com, https://oilprice.com/Energy/Energy-General/Energy-Transition-Could-Cut-Oil-Prices-By-10-Per-Barrel.html, christian The downside risk that the energy transition can bring to oil prices is calculated to as much as $10 per barrel in the long term, meaning oil prices could end up $10 lower in the future than they otherwise would if the transition to cleaner energy speeds up.
This oil price downside risk is by far the biggest factor in determining the resilience of global E&P upstream portfolios, along with the potential for rising costs for emitting carbon dioxide. Rystad Energy has studied the portfolio resilience of the top 25 non-national oil and gas companies and found big differences in how robust they are to the risks of lower commodity prices and increased CO2 taxes.