Transportation, not electricity, is the source of oil’s importance: since the 1970s, the U.S. has weaned its power sector off of oil. Today only one percent of U.S. electricity is generated from oil and only one percent of U.S. oil demand is due to electricity generation. Thus expansion of electricity generation from solar, wind, nuclear, and other power sources will not serve to displace oil in any perceptible manner. Plug in an electric vehicle today and 99% of the electricity its battery is charged with will not be generated from oil.
Thx to Steven Witt