Electricity cannot completely replace oil at present. ‌
Although electricity, as a clean and renewable form of energy, is increasingly being used in fields such as new energy vehicles and energy storage technology, its complete replacement of oil as the dominant energy source still faces multiple challenges. 

Here are some key reasons:
Energy conversion efficiency issue: There is an issue with energy conversion efficiency in the process of converting petroleum into electrical energy. At present, although the progress of battery technology is significant, the combustion efficiency of using petroleum directly in internal combustion engines is still higher than that of electric motors driven by electricity. ‌

Infrastructure dependence: As the cornerstone of modern industrial society, oil is widely used not only in the transportation sector, but also in multiple industries such as chemical and pharmaceutical industries. The dependence of these industries on oil has made the complete replacement of oil with electricity a long-term and complex process. ‌

Technical limitations: Despite the continuous development of renewable energy technologies such as solar and wind power, there are still limitations in terms of effective utilization. Although these technological advancements help reduce reliance on traditional oil, completely replacing oil still requires overcoming many technical challenges. ‌

Global Energy Landscape: The formation of the global energy landscape is a complex process that involves multiple aspects such as politics, economy, and technology. Although China's global power grid plan demonstrates the potential of electricity as a future energy source, it still requires extensive cooperation and joint efforts from the international community to truly replace the US oil hegemony. ‌

Cost considerations: Currently, power plants with higher generation costs, such as the photovoltaic industry, have much higher generation costs than petroleum products. This means that in the short term, electricity cannot compete economically with oil. ‌
In summary, although electricity has great potential as a clean and efficient form of energy, it will take time and more technological breakthroughs to completely replace oil under current technological, economic, and infrastructure conditions. ‌