I think you are underestimating the convenience of oil relative to other forms of energy. Also, Saudi Arabia has a mostly functioning government, which is not r

I think you are underestimating the convenience of oil relative to other forms of energy. Also, Saudi Arabia has a mostly functioning government, which is not really true of most African countries and Saudi Arabia is one of the lowest cost producers. Maybe some African countries can compete on price, but not until they increase their engineering capacity and reduce corruption. Edit: Even if the world does go all in on electric vehicles, you still have to mine all the metals that go into their motors and batteries. That is going to be a huge shock to the mining industry. Probably on a level to the commodity supercycle that China's growth caused. I don't see any way that metals production can be ramped up heavily without an increase in oil demand.