The world is not going to watch idly as the last % of bitcoins are being mined with an energy budget larger than Europe's.
The world is watching as industries are increasing and using electricity which is everyday increasing too, so far the industries are making money and paying for the electricity, then case settled and mo one to complain. If miners mine profitably, and they pay for electricity which will also in a positive feedback increase electricity generation and electricity companies making more money, then case settled. Bitcoin mining as of now only generate more electricity that will be used for mining, which means bitcoin mining will make electricity company more productive as they mine and pay for the electricity they are using.
The question should be, will Bitcoin mining be profitable? So that miners will be able to pay for electricity.