Why is this getting downvoted? I think its very relevant, that the cost of oil production at lower volume, could be a tipping point. Here en nothern europe, this is already effecting non profitable oildrillings, which are beeing closed, and new drillings beeing postponed or altogether cancelled.

> Electric cars are an order of magnitude more efficient than ICE cars.

Citation needed. (I don't think more than a factor of 3 is possible, in ideal circumstances.)

The most efficient vehicles on the market today extract something like 40% of the energy from the fuel they burn. ICE installations can get to around 50%, but that's typically for very large CI engines. Absent comparing something like a top-fuel dragster, I think you're correct about a factor of 3.