You should know that oil is hardly used for elec. gen in developed countries. They are only indirect competitors - through the automobile.
https://www.eia.gov/tools/faqs/faq.php?id=427&t=3
While your number seems like a lot, it's really just a drop in the bucket. The US consumes close to 8 billion barrels of oil annually. I was, however, surprised that it was still as high as 0.5%.
Eh? When I worked for a United States generation company our coal-burning plants could and would be switched to bunker fuel if the price was right. To be fair it's not much (less than 5%) depending on how you slice it, but in their 2016 annual report [1] Dynegy reported 2.6 TWh (terawatt hours) sold into the wholesale market and .7 TWh into retail.
Be careful about blanket statements unless you're an expert in the area because other HN readers are experts.
[1] = https://www.dynegy.com/sites/default/files/Dynegy_2016_Annua...
https://www.eia.gov/tools/faqs/faq.php?id=427&t=3
Here's a better source. It's 0.5%. I felt that was enough to warrant using "not used in developed countries," but fair enough.
>Be careful about blanket statements unless you're an expert in the area because other HN readers are experts.
Easy there hotshot
Visit Hawaii sometime. Oil on Oahu. Diesel on the other islands.
Diesel is a useful option for places not connected to a larger grid.