NicoleC, here in Canada we support Bombardier, who manufacture light rail systems; with the Canadian dollar and many other currencies at low values, there is no way US made equipment has a chance without subsidies that are illegal in international trade. Siemens, German-controlled, international with many products including light-rail, health care and computers, supplys 74,000 jobs in North America. Siemens won out here in my city because they were cheaper at the time. Both are excellent companies, with Siemens a major player in research.
In my city transit expansion is needed, but the city-provincial governments will not pay for it. The system will always have to be subsidized because people will not pay the fares needed to support it.
The oil companies have never worked against light rail systems. A combination of politics and costs, mainly costs, marginalize rail transit. That is why the railroad companies have no interest in it.

Here in Alberta-British Columbia, it looked like coal (tremendous amounts here) might start to grow again. Std. Oil NJ through its affiliate here set up a research lab and not only bought coal producers, but prospected for still more reserves. But it looks like profits, as things stand now, are years down the road, so the properties are on the market if not already sold. Coal will be used, however, in new power generation and some industries. Much of it will continue to be exported to Japan, etc. More emissions? Yes.

The major oil companies will continue research and diversification so that they can continue in the energy business if oil looks like it might be on the way out. But a long ways to go yet. Hydrogen, fission, whatever, the energy will be there.