Reuters had a very interesting article with this thesis today, 19 May 2020.  Worth reading.  I have included some of the statements from the article to engage your interest in reading the whole article.  I will post the link in our Link Library as well.   okiedo

https://www.reuters.com/article/us-data-esg-autos/past-its-peak-battered-oil-demand-faces-threat-from-electric-vehicles-idUSKBN22V1HY

Looking ahead, cuts in capital spending forced upon energy companies as their revenues crumble could tighten supply enough to cause a spike in oil prices, making electric vehicles more attractive just as automakers ramp up production, analysts say.

"We think this will lead to a tipping point, accelerating the switch to electric vehicles in many more countries around 2023-24," Per Magnus Nysveen, senior partner at Rystad Energy, a consultancy in Oslo, told Reuters.

“All the growth in transportation is being eaten by electricity,” said Harry Benham, chairman of Ember-Climate, a British energy transition think-tank. “Oil and gas companies have got no ability to defeat electricity as a transport fuel.”