You can electrify all light vehicles with EV and still not make a dent in oil and gas. Heavy duty, air, ships - there no EV solution close to even close to commercialization yet.
In the US of A, transportation now consumes more than electricity generation. Economically viable EV's are now on the market, and electric semis will be within 2 to 5 years (as will a proper network of EV chargers).
With battery storage just entering into the market as a commercially attractive alternative for back up, and wind and solar power potential and price sufficient to supply all energy needs for electricity there is every reason to believe that in the US of A it is only politics that can keep the oil and gas industry alive.
There are blockages to renewable completely taking over (as well as from politics)- ocean going shipping, aviation, and (e.g. in the UK) use of LNG for home heating.
It is still the case that where the US of A led (note the past tense), the world will follow. Urban pollution in India and China is forcing their Governments down the renewable path.
Will this kill the oil and gas industry quickly? I doubt it. They own too many politicians.
We will, however, fry slower.