If electric vehicles were to displace gas vehicles, then oil would be displaced by grid electricity.

But gas vehicles remain very competitive against electric vehicles on total cost of ownership, even with oil prices far higher than $20/barrel. And since gas is so much easier to transport, gas vehicles have numerous technical advantages.

If electric vehicles do not fully displace gas vehicles, then this article is wrong. Oil prices can stay high.

If electric vehicles do fully displace gas vehicles, the article is still wrong, because oil will not be competitive with grid energy even at $20/barrel.