Tech change is inevitable. Keep in mind that some regions are forecast to hit parity in 2 years at $100/kWh.
BloombergNEF’s annual battery price survey finds prices fell 13% from 2019 Hong Kong and London, December 16, 2020 – Lithium-ion battery pack
about.bnef.com
And battery prices are forecast to halve from today's price by the end of the decade. At that point BEVs will be cheaper to build for OEMs and cheaper to own and operate for you virtually everywhere in the world. This is why carmakers are increasingly committing to phasing out tailpipes either later this decade or in the 2030s.
Europe is already starting to see gas stations close in high adoption jurisdictions. We'll start to see that early next decade too. Gas stations, quick lube shops, brake repairs and a lot of independent mechanics will be going away through the 2030s.
As to the topic at hand, I think oil probably has at least one solid bull run after this one. Mostly because nobody is good at forecasting oil demand and the impact of EV growth right now. Should be more obvious in 5-10 years.