Are electric cars bad for the oil industry?

[geegaw]

Title.

So. Electric cars are gaining in popularity, therefore the popularity of gasoline will be going down. Won't the price go down, leaving the oil industry in trouble?

Yes, Electric car is a threat to oil industry but in small percentage. Eventhough electric car is getting popular but the other transportations still using gasoline. For example, there's still no electric airplane and ship especially electric cargo ship. They are still rely on gasoline as fuel. I think the real biggest problem with oil industry is oil has limited availability and won't last forever. I hope there will be electric airplane and ship in the future.

Although electric cars do not have too much harm to the environment, that's fine but it still has too many disadvantages and limitations, that makes it impossible to have too much influence on the oil industry. The cost of production is too expensive and the time to maintain the operation of an electric car is too low, and electric cars is difficult to achieve high speed, it makes electric cars not a favorite product on the market, maybe this will change in the future but it will take a very long time for modern technologies to grow

[1715596316]

1715596316

[1715596316]

1715596316

[1715596316]

1715596316

[headache1327]

I think, of course, that electric cars can not harm the oil industry in any way. Oil stocks in the world are rapidly depleting and oil is being used in many areas. I think electric cars will relieve the oil industry.

[Daveeoff]

Of course they are bad for the oil industry. Way more enjoyable to drive tho, I've driven one and its super silent.

[EnricoGomez]

At the moment, no.
There are a very minimum number of electric cars - considering their prices as well compared to oil dependent cars. They are more like prototypes and still need improvements because of many limitations and incapacities which more likely viewed by people as disadvantage.
But if it has improved in like decades, yes it will.
It is for the best though, they are more eco-friendly.

[adonaiking]

Electric  cars is a  threat to  oil company, that's why  the government  did not give full support and they never help to endorse it in the market because if many people will use electric cars sales of oil companies will get affected.

[Komaci]

I think yes, it was really bad. If the whole world using electric car then the sale of oil will decline and oil industry wil reduce. But don't worry cause many of industry still need oil.

[wanted sliter]

Title.

So. Electric cars are gaining in popularity, therefore the popularity of gasoline will be going down. Won't the price go down, leaving the oil industry in trouble?

Exactly. Gas exploration is becoming increasingly scarce, it's a big industry and the capitalists certainly want to keep it. Fossil fuels will soon be exhausted, and people will soon find alternative fuels. In order to feed its industry, the capitalists certainly will not reduce gasoline prices.

[dangphananh]

I do not like using materials that use petroleum, gas because it is very polluted. Instead, I prefer to use more electricity to help clean the green environment and human life closer to nature.

[Tagabukid69]

Title.

So. Electric cars are gaining in popularity, therefore the popularity of gasoline will be going down. Won't the price go down, leaving the oil industry in trouble?

The consumption of oil in the market will surely drops down if all gasoline cars are converted to electricity. This is a good movement to conserve our mother earth.

[Bobocantik]

Of course it is bad for the oil industry. I mean that is the main target of oil industries, isn't that correct? So, if they won't have any customers left then it would put their financial state in a critical condition. On the other hand, it is quite nice for the environment to be free from air and water pollution that is caused by oil.

[shoujiuhaituo7]

First of all, human civilization is directly proportional to energy consumption, especially in our past history. In the coming decades, global energy consumption will only increase. Indeed, the recent decline in oil consumption has contributed far more to the decline in demand for oil than for electric vehicles.

[diegz]

I think yes, it was really bad. If the whole world using electric car then the sale of oil will decline and oil industry wil reduce. But don't worry cause many of industry still need oil.

Cars are not the only machine that consume fuels. Generators, and power plants are also using them. Though even with those other machines using fuel, fuel consumption would still decline.

It is also possible that price will start to drop since there will be smaller demand. Besides, it is also good for the environment.

[intingko]

yes because they are  violating the income of oil industry.For it is not good for the reason that they can affect the environment and violate the rules of government.

[hermae]

yes because they are  violating the income of oil industry.For it is not good for the reason that they can affect the environment and violate the rules of government.

Yes. I think there would be a big impact on the oil industry if the people or the government upgrade to electric vehicles. It would decrease the profit earned and sales by the oil companies. In my country, there are four giant oil companies that control the oil prices. If there is an oil price hike, everything also increases. So in that sense, it would help the people because if the oil companies will decrease their oil prices, the price of the daily necessities like food and transportation of the people will also decrease.

[usorin]

In the car i dustry it is a question if marketing, both polute the envirement, they are not cheap so it is a question of loby and it looks like house with electric cars make a nether lobby then the others.

[bitzizzix]

Electric cars and fuel cars are much different, especially environmentally friendly electric cars do not cause pollution and we also have to think about cars that use fuel oil that has been purchased. and there will be other problems, such as fuel oil workers, such as fuel suppliers there will be a decrease in income and will endanger workers and over time there will be a reduction in manpower and it will hurt many parties. should think further before changing it so that no one feels harmed

[Lorna t]

      In oil industries need to know all the work with a finite resources however the prices are fluctuate wildly but the long term is trend upward it's just whether all current system that run on oil can be converted for other power source it will not be long after it runs out .the oil will be fine for a while it is a glut right now but that can be lighter right up to any days and the electric earns at this moment that aren't a problem for the oil industry.this oil industry needs to have a lot of good years .cars needed at least 9 to 10 years need a lot of development on batteries and changing stations ...

[romeo23]

No, not even close to killing the oil industry, because hydrocarbons will still be needed for jet fuel, long distance railroads,  long haul trucks, bulldozers, ocean going ships, and other transportation.  Oil and gas are also needed for plastics and fertilizer.The wide adoption of electric vehicles over the next 20-30 yearswill eventually cut oil demand by 60 to 80 percent, however,  which will cause the price of oil to stay low compared to price of five years ago..Oil will still remain an important industry, but it will be much harder to base an entire  nation's economy on oil. Electric cars will represent the vast majority of vehicle kilometers driven is most developed nations, but people and businesses will still have gasoline, diesel and hybrid vehicles, such as heavy trucks, off road vehicles, agricultural harvesters, construction equipment, vans, and buses.  People who live in remote or mountain areas where the electrical power is expensive or fails frequently will also continue without pure electric vehicles.And I expect that people who take long trips which may occur at the same time as major holidays will also avoid pure electric vehicles, because charging stations on freeways will tend to saturate on holidays.If we look at these technology trends from the viewpoint of a nation like Venezuela, then Electrification will effectively kill off the oil industry as a major source of nation wealth.

[ROB18]

With the current direction of the society to use alternative/sustainable or renewable energy. There will be a huge effect to the oil industry. But for sure, Factories are still heavily using it.  There will be a huge impact but it will not be out of business. I'm sure oil company knows how to play the game, they have the money and for sure they have the way to take advantage both worlds.

[Sled]

With the current direction of the society to use alternative/sustainable or renewable energy. There will be a huge effect to the oil industry. But for sure, Factories are still heavily using it.  There will be a huge impact but it will not be out of business. I'm sure oil company knows how to play the game, they have the money and for sure they have the way to take advantage both worlds.

Yes, it is not just about the cars that use it as a fuel but also the factory so the oil industry will be still sustainable and even there will be electric cars then it is not still the end for the oil industry since the factories and other types of places use oil because it is one of the most common way to produce energy like in the cars.