Alternative fuel cars are already affecting demand - not so much in the USA, but heavily, heavily in Europe, China and India.
These three places have denser packed areas and don’t have such a long commute as Americans.
Even in the USA, electric cars make sense along the East Coast.
Petrol cars are the right choice for the interior of the country. So I see both types co-existing.
But the petrol prices will go down - so a win for all except the oil producers
A 1000 mile range on one charge is that would make an electric car truly practical.
Oil industry won’t go away anyway although I suspect it would shift from being a fuel source to a source of composite materials.