After a deep dive, oil prices are slowly crawling back up on the back of resurging demand from China and India in particular, as well as looming supply shortages from Nigeria to Venezuela. Yet oil markets are in for a rough ride, as uncertainties mount regarding oil’s continued predominance as transportation fuel in the coming decades. An accelerated adoption of electric vehicles would hasten the end of the oil era, and could cause significant geopolitical turbulence as producer countries heavily reliant on oil revenues will struggle to diversify their economies. We are already witnessing the destabilizing effects of low oil prices in the Middle East, while Russia’s aggressive behavior can also be partially explained by its domestic economic woes
http://nationalinterest.org/feature/will-electric-cars-destabilize-the-world-16387
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