Biden said that he would begin phasing out of oil in 2035, with a general target of 2050 for a change to clean energy. This doesn't mean that the oil industry will be completely wiped out, but it does mean that there is a strong likelihood that demand for traditional oil products will decrease substantially by that time, and a replacement industry should already be producing an alternative.
Biden isn't going to kill oil demand himself, but acknowledges that demand is going to drop. Why prop up a declining industry, when it should be controlled by market and demand?
This is the same argument Alberta should be having. Alberta needs to transition as well. Of course, between now and 2050, the oil industry should be milked for every last drop of profit available. That is the support that Canada should be giving Alberta and NFLD. In the States, Texas and the Gulf are absolutely going to get support for oil product, as long as it's viable.
Biden believes that oil will be a declining asset in 2050, with no path to regaining it's former prominence as a source of energy. It's kind of hard to argue against that.
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