Earlier quoted context omitted.
That video makes no sense. If renewables are cheaper, then fossil fuels have even worse margins. The video claims for some reason that fossil fuels are "more exploitable" and more profitable, but assuming you're baking storage into cost, a lot of energy is fungible. Furthermore, solar can easily be installed on prem and many energy users have plenty of unused roof space, so even if all energy providers conspired to k…
It's worth noting that a decent portion of the value/products generated by by the fossil fuels industry isn't gasoline or diesel. Tons of products are made with byproducts from the refining process, much of the research done by these companies over the last century was focused on inventing new products and creating markets to sell them to. Replacing transportation use of fossil fuels with renewables doesn't actually…
Fun fact: Gasoline only became the fuel for cars because it was a refinery byproduct that had no real economic value, and so was very cheap. Before that, cars ran on alcohol or electricity, but oil refining was still a pretty large business anyway.
If we stopped fueling cars with gas, refineries would still operate to provide all of the other products we need, just as they did before gas was a thing.