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).
I do agree that oil demand will remain strong.
China is the #1 producer and buyer of electric cars.
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.
https://www.wsj.com/articles/mind-the-shock-as-auto-investin...
https://www.forbes.com/sites/russellflannery/2013/04/26/warr...