It is possible, China and several European countries are doing it as we speak by transitioning to BEVs and retiring obsolete ICE vehicles. The only place where eliminating fossil fuels is a physical impossibility is by the laws of physics in whatever parallel Lala universe you are posting from
It is possible, but we aren't doing it. Emissions are increasing.
No one is "retiring obsolete ICE vehicles", they are just junking cars that no longer work. Its not even clear that BEV sales have actually reduced sales of new ICE vehicles. We can hope eventually they will, but is there any real evidence for that? Or are BEV sales just expanding the fleet of vehicles allowing more people to drive more miles?
The problem is that you can blame the companies who pump the oil out of the ground. You can blame the auto manufacturers who build ICE cars. You can blame the private jet companies that build private jets. You can blame the airlines that operate jet aircraft. But in the end the real culprits are those of us who drive car, fly in planes and otherwise use the products that create emissions.
And the barrier to ending climate change is that we aren't willing to make the changes required.And certainly not ready to make changes on the societal scale required.