I think once India and China start selling cheap electric cars and electric trucks deliver an economic advantage to oil, we can safely say oil is on its way out.
But not before that.
But not before that.
It's still 1/300th of all cars sold, so it's not mainstream, but the tremendous growth is there (see the graph on the first article). It's actually the U.S. that's lagging behind.
http://www.wsj.com/articles/mind-the-shock-as-auto-investing...
http://www.forbes.com/sites/russellflannery/2016/08/30/warre...
Hope that will be true soon.