What is going to happen is that renewable energy prices are going to drop. let us simp0ly assume this. We need renewable energy so as long as a profit can be made, R&D spending will increase. Throw enough sh!t against hte wall and some will stick.
The thing is, oil has a great amount of energy density. Nothing really beats it in terms of what can be used for cars and planes.
So, the thing is, cars will probably move away from gas. I think home heating will also have to change in the future. But oil will be used in planes for a long time to come. Some day perhaps we will see better electrical storage techniques, but till then they really are not needed for airplanes.