The article assumes that there won't be a spike in oil prices (we don't know).
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...
