The EV installed base is far from making a tiny dent on petroleum usage.
But now oil companies know that for every US$ 10 / barrel oil goes up, probably US$ 100 million / year more goes into electric battery research alone. Maybe I'm exaggerating a little.
Now they must make fool cells (ehh fuel cells) happen. And their shortcomings will show up quickly, instead of being a rosy always in the future proposition.
A toast to one million EVs in the roads (just 0,1% of installed base), still not enough to make a tiny dent on petroleum usage, but enough most people know better about all the EV FUD out there.
Wish Elon would make that Giga li-ion factory a startup that we could micro invest on. Put US$ 10k now, and get US$ 10 million over 20 years.