Renewable energy may not replace oil and gas soon.

Renewable energy may not replace oil and gas soon. In a recent report commissioned by the American Petroleum Institute, PwC described the oil and gas industry as a critical one for the United States regarding both direct and indirect impacts in the form of employment, labor income, and value-added.

For example, the oil and gas industry employed 11.3 million Americans in 2019, both directly and indirectly. Labor income from these jobs, which PwC defines as wages and salaries, and benefits as well as proprietors' income, came in at $892.7 billion for that same year. Finally, the value added by the oil and gas industry in the U.S. for 2019 came in at about $1.688 trillion. In other words, the oil and gas industry contributed close to $1.688 trillion to the national GDP.
If the oil and gas industry is not going anywhere anytime soon, the industry's efficiency will be the key.