The article assumes that there won't be a spike in oil prices (we don't know).<p>It's also strongly underestimating China, which is the main producer and consumer of electric cars (also, if they decide to do something about pollution, this might shift dramatically).<p>I do agree that oil demand will remain strong.<p>China is the #1 producer and buyer of electric cars.<p>It's still 1/300th of all cars sold, so it's not mainstream, but the tremendous growth is there (see the graph on the first article). It's actually the U.S. that's lagging behind.<p><a href="https://www.wsj.com/articles/mind-the-shock-as-auto-investing-turns-electric-1481626699" rel="nofollow">https://www.wsj.com/articles/mind-the-shock-as-auto-investin...</a><p><a href="https://www.forbes.com/sites/russellflannery/2013/04/26/warren-buffett-backed-chinese-automaker-byd-climbs-12-on-turnaround-update/#2dfc9f46783f" rel="nofollow">https://www.forbes.com/sites/russellflannery/2013/04/26/warr...</a>