Gasoline is only one of the byproducts of oil products a modern economy requires. Lubricants, diesel, nitrogen, and the list goes on - these are still all needed even if we convert to 100% EVs.
And let’s not forget: fertilizer. About half the world’s population is fed with foods produced from the Haber-Bosch process, which makes nitrogen fertilizer [1]. This relies on hydrogen inputs primarily from natural gas. The fact that we’re burning this resource that our highly populated planet depends on is suicidal.
https://ourworldindata.org/how-many-people-does-synthetic-fe...
All non-transportation fuel uses account for a total of only 33% of crude oil consumption. Of the other 2/3rd, gasoline accounts for 43%. So yes, switching to EVs would have a massive impact, and probably put unconventional sources of oil (eg. Venezuela and Alberta) out of business. As for diesel, EV truck sales are starting to take off too.
https://www.eia.gov/energyexplained/oil-and-petroleum-produc... https://www.iea.org/reports/global-ev-outlook-2025/trends-in...