Maybe there is room for new industry or cooperation? In the end, society in North America may just feel the need to slap a hefty tax on oil use to pay for electric cars, or US automotive industry will see further decline in Detroit like cities and another oil based financial crisis!
In any event, such issues will be resolved because Americans are not really as stupid as the oil industry seems to think they are!
If a political change is needed, then needs must, a political change and higher taxes on oil and carbon fuels it will and must be!
The slower the progress on converting over to non-fossil fuels the greater the sense of urgency and the more draconian the future measures to be adopted! Economics rules very cruelly.