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One thing to think about that an electric car is it's own enemy. The more people use electricity to drive, the higher electricity rates will be and the more oil goes down. Just the psychological effect of knowing that oil isn't the only option we have could drop oil prices to rock bottom levels. What happens then? Everyone just sticks with their regular ICE only cars.

Do I really think that will happen? Nope, I think oil will be expensive for a long time, probably forever. Everyone has completely forgotten that as recently as the beginning of the current presidential term, oil prices were at $30 a barrel. 6 years ago oil was in the teens! Now OPEC is freaking out that they can't balance their budget unless they can get it back up to $80-90/barrel. I don't think they'll ever come back down. Not until there's absolutely no use for it. Gas is perfect for small engines like chainsaws and lawn mowers, but hopefully, the government can figure out how to plan a little more long term and help get this oil dependency in the past.
 
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