You’re thinking too small with LED lights and heat pumps.
Overall energy consumption still has a long way to drop if we continue to electrify transport. Oil is consumed very inefficiently in internal combustion engines and electric motors are far more efficient. That’s even before you account for the energy consumption of refining and transporting oil, all of which would vanish. Even if you just took oil out of the ground and pumped it into a furnace to generate electricity, then use that electricy to move everyone around, we’d drop our consumption significantly.
The setup with have now is desperately inefficient.