I think it is an ancient asset that may be extinct in the future. Many companies in the car industry have opted for a less carbon footprint and no more oil, so I’m not sure how much it could be shortly. They have covered many problems that cost money to stabilize or even raise the price.
Some countries have indeed tried to find ways how they can be free from dependence on petroleum for fuel because it is quite disruptive to the environmental ecosystem and continues to suppress global warming with the carbon produced when it is burned.
However, when a major war occurs, oil becomes a global prima donna, as before when the Ukrainian war with Russia, global oil has increased in price, because maybe then and now there are still many who are dependent on oil.
But if you talk about the long term, I agree with you, maybe it will be extinct and humans will be enough not to suck oil from the earth anymore.