Not explained in the article is there is a threshold effect in play here. Electric cars are probably cheaper on a per mile basis now, but not on a capital basis. However batteries are coming down in price so fast that within a decade we may find that electric cars are cheaper on a capital basis. If that happens, gasoline cars will stop being produced overnight.
Other one that people don't consider as much is that outside the united states and a few other oil producing countries oil imports are considered to be a necessary evil. If the governments of those places think that they can run their transportation infrastructure without oil, they'll switch as fast as possible and erect very stiff taxes to reduce demand for oil imports. AKA do the rulers of China like that they need to import oil? No they absolutely hate that. Which is to say inside the US oil companies have a lot of economic and political power, outside the US governments hate and fear them.
Both of these means that demand for oil could start falling rapidly. That will depress the price, any producer that can't economically produce at the new price will be bankrupt. Any oil exploration business will go bankrupts.