The mad dash of the fossil fuel industry to open up new sources of extraction is confusing to me. They're fighting a losing battle. It's akin to pouring all your R&D into VCRs when Compact Disks have already entered the market. Yes, we're going to need oil for a long time still, so the analogy isn't perfect. But we are very close to reaching peak demand, opening up new supply is only going to drive prices down.
The era of the black gold rush is over, why are people insisting on continuing to beat an aging horse whose days are numbered? The future of energy is not in fossil fuels, they need to get that through their thick skulls and diversify now while they still can.
Edit: If nations, regions, and companies don't diversify they only have themselves to blame. The writing is on the wall, the introduction of self-driving cars will only hasten the decline in demand for oil.