Oil is nearly utterly irrelevant to electricity, however. Nobody sane produces electricity on anything but the most minor of scales using it, and given mass-market electric cars, it is never going to be able to compete on price with electricity. charging a 100 kwh battery pack from bone dry to full would cost an average of 12 dollars and change in the US. That is the equivalent of a gas price of <60 cents per gallon, and electric cars are a better driving experience. (well, a car with a 100 kwh battery back certainly will be. That's a lot of oomp.) The sauds aren't going to be able to beat this transition just by dropping the price of oil for a year or two, nor are price hikes on the electric side going to do it - most of the cost of electricity to private consumers is taxes, so even quite large rises in the cost of coal and gas will not translate one-to-one as end-customer pain, and the differential in price is simply to large. More importantly, the electrification of the world continues apace, and most of the places joining the age of the electron do not have vast coal reserves of their own. The secular pressure to go nuclear is only going to rise, and most of the world is well beyond the reach of the various groups dedicated to the defense of helpless Actinides.