Sorry, but stories of the evil oil monopoly go back to the 1950's and the so-called "100 MPG carburetor."
What killed the electric car? Convenience. After decades of being able to drive between LA and San Francisco on a single tank of gas, most motorists simply are not willing to put up with 3-8 hour recharges simply for 100 miles worth of range, if that.
Hybrids solve this problem by constantly recharging the batteries (albeit with a gasoline motor), and that's why they're popular instead of all-electric vehicles. Amazing when you consider that electric vehicles have been around for decades in the form of golf carts and similar vehicles, whereas hybrids have had a much shorter development time.
If the "evil oil monopoly" story were true, we wouldn't have hybrids either. Or the few electric powered cars that made it to market like the GM EV-1.