> In aggregate, oil consumption may drop, but it doesn't account for the possibility that fossil fuel consumption (natural gas, coal) in the energy mix of power generation will rise to meet the increased electricity demands from charging electric cars at home and workplaces.

That's a relevant distinction for climate change, not if you're an oil company, or Russia and OPEC. Pre-tax oil prices are liable to trend lower -- and give countries an opportunity to raise fuel taxes without causing significant consumer harm, reducing oil demand even further.

And the capacity increase is poised to come from mostly non-fossil sources anyway. Expanding coal is preposterous -- solar is already cheaper and the only people who don't hate it for five different reasons are coal mining companies. Natural gas might be expanded somewhat, but even there solar is cheaper, and anyway natural gas releases less carbon per KWh than oil (much less coal) even before accounting for the greater efficiency of electric vehicles.

> At least, until we completely figure out an efficient way to harness renewable energy like solar inside (swappable) batteries.

Electric cars already do this. The batteries hold more charge than the average daily commute, so all that's required is to charge the vehicle during daylight hours.