The United States is now committed to the idea of phasing out coal power plants, joining 56 other nations in kicking the coal habit. Saturday's announcement by U.S.
On a practical level, that will probably not happen for a long time. My understanding is that most high performance lubrication is petroleum-based, even if only in part. We'd have to find alternative sources for those lubricants before we could completely drop oil.
We have natural oils and we are good enough in organic chemistry to turn that into what we need. The amounts needed are so small that it basically does not matter.
Without major reforms to how politicians can get money this is just a bunch of rich people jerking off. We will never be free of coal and oil when our politicians are all sold in the dollar store.
If the alternatives are cheaper then it will change. Coal is mostly used to produce electricity, so when solar and wind can compete they will start lobbying as well against coal as a competitor. Combined with citizens working towards and end of it, that can really change something. That is also true for things like evs and oil, gas heating and heat pumps and so forth.
Except money is not the only factor. Solar and Wind may be cheaper, but they are paid for upfront while oil and gas are effectively subscription based. Nations and companies like having the ability to cut off and sanction poorer country’s power grid for instance, since even just the threat of it can keep them from doing anything too radical. While it may be a factor in politics, i really don’t see OPEC and the executives of major oil companies letting go of that power lightly.
This is largely an agreement to 'do what is cheap' which is the kind of thing which happens with relatively little government intervention (though some intervention can speed the process up)