Whats going to happen to oil prices when electric cars take off?
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What is going to happen to nat gas is the real question. You think solar panels and wind mills are going to be able to cover the demand. No wonder Shell and others are moving that direction.
Gasoline is only a component refined from crude oil - granted it's about half of a barrel of oil. There are many 'critical' products that still require petrochemicals today. Surely as companies race to develop electric cars, there are also others trying to figure out how to make the other products from crude synthetically. The Netherlands has banned the sale of combustion engine vehicles starting in 2020. While it is only a small country, it does indicate the start of a potentially larger trend. All of this bodes poorly for the price of oil in the long run. In the short run the price is probably stable to increasing due to the swift growth in world population and emergence of a broad base of newly 'middle class' consumers.