Are electric cars bad for the oil industry?

[Xenophoto]

Right now they are not because there is not a demand high enough for electric cars to make the oil industry scared about it, but make no mistake, in the future it will be less and less the demand for oil cars as we see high quality affordable cards like the Tesla cards becoming full electric and as we see the electricity become more and more cheaper to obtain.

And if the electric cars company can make their design much better than oil cars, people will change from oil car to electric car in no time. People likes sleek design and they want to follow the trendy stuffs. So if electric cars become a trend, massive amount of people are going to buy it just to look cool.

If this happens, oil industry will really be affected.

I do not think it will be very bad because the fact is that electric cars are made in a factory, this factory needs oil to run right ?
For many things there is oil needed so I think it will not get a problem in the near future.

Why would an electric car factory be needing oil to run? SMH. They don't need to buy oil in order to have electricity in their factory and make the machines and/or robot works. We already have electric companies for that.

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[darewaller]

Right now they are not because there is not a demand high enough for electric cars to make the oil industry scared about it, but make no mistake, in the future it will be less and less the demand for oil cars as we see high quality affordable cards like the Tesla cards becoming full electric and as we see the electricity become more and more cheaper to obtain.

It's true that the amount of electric vehicles are not really significant enough right now. However I don't think the electric cars would be able to completely replace oil-powered cars as some engines really require a large amount of power and I don't think e-cars are as powerful. There will probably come a time where only the rich would be able to afford oil cars and e-cars are used by the mass.

[bitgolden]

I think it is bad for oil price since literally it is using another source of fuel although it is not a very big threat.

Yes, it is not much good for the oil industry, it will have negative effects on the oil industry and will drop the value of oil, but still there are some industry which require oil for their use and electricity for those industries are useless.

[Barbut]

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?

Then you don`t know how much things are made from oil. It is used for fuel the most, but I don`t think electric cars will destroy oil industry.
And I think now in 21 century people need to realize what is good and what is bad for all of us. Why even talk about this? Is it more important for people to drive fast car or to live in healthy world?

[Superways]

Right now they are not because there is not a demand high enough for electric cars to make the oil industry scared about it, but make no mistake, in the future it will be less and less the demand for oil cars as we see high quality affordable cards like the Tesla cards becoming full electric and as we see the electricity become more and more cheaper to obtain.

And if the electric cars company can make their design much better than oil cars, people will change from oil car to electric car in no time. People likes sleek design and they want to follow the trendy stuffs. So if electric cars become a trend, massive amount of people are going to buy it just to look cool.

If this happens, oil industry will really be affected.

yeah, if the cars of electricity power developed more and remained successful then I think it will replace the oil cars, but maybe it do not give any harm to the oil industry as not only the cars are using oil there are a number of other uses of oil exist.

[Shinpako09]

I think so because big car companies are making some electric cars now. As of now it wont affect the oil industry but for sure it will in the near future.

[zimmah]

Oil is also used to make plastics, chemicals and jet fuel, and since jet fuel can't melt steel beams is not going to be replaced any time soon, they will still have some use.

As far as i know, there aren't many power plants anymore that generate electricity from oil, (electric cars need electricity too, so if for example 100% of our electricity would come from oil, then they would in fact be more polluting than regular cars).

If enough electric cars are being used and replace petrol cars, the price of oil might go down and this might have an impact on jet fuel and therefore also on plane tickets (fuel is a large part of the ticket price).

[quintiilieo]

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?

I think electric cars are not affect because almost all of the user of that has a big money compare to the car that you need gasoline are little amount of people who can buy that thing so that has no effect.

[botany]

Oil is also used to make plastics, chemicals and jet fuel, and since jet fuel can't melt steel beams is not going to be replaced any time soon, they will still have some use.

As far as i know, there aren't many power plants anymore that generate electricity from oil, (electric cars need electricity too, so if for example 100% of our electricity would come from oil, then they would in fact be more polluting than regular cars).

If enough electric cars are being used and replace petrol cars, the price of oil might go down and this might have an impact on jet fuel and therefore also on plane tickets (fuel is a large part of the ticket price).

Airlines try to squeeze the maximum they can from customers. Crude prices have dropped to a third from their peak. Although fuel costs form a large part of the ticket price, I haven't seen flight ticket prices drop substantially.

[arwin100]

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?

I think electric cars are not affect because almost all of the user of that has a big money compare to the car that you need gasoline are little amount of people who can buy that thing so that has no effect.

It surely affect because the more people use electric car well the less gasoline consumption and oil industry will breakdown and many people loss their job with that and by that it can affect the global economy because, oil have great factors in world market trade, and i will surely think those powerfull country holding oil will not be rich anymore because their product will not be saleable anymore because of the electric car, wil surely government will take action if that happens.

[expert4knowledge]

Right now they are not because there is not a demand high enough for electric cars to make the oil industry scared about it, but make no mistake, in the future it will be less and less the demand for oil cars as we see high quality affordable cards like the Tesla cards becoming full electric and as we see the electricity become more and more cheaper to obtain.

Yes, electric cars are not good for oil prices in two aspects first is what you said that can decrease a share of oil usage and second is the effect that they can have on other ways of oil consumption and can motivate others to not to use oil.

[n0ne]

I think so because big car companies are making some electric cars now. As of now it wont affect the oil industry but for sure it will in the near future.

Yeah most of the companies had started to create electric cars with their own brand with varying features. This won't make oil industry down as only a limited percentage people depend upon electric vehicles.

[rickadone]

I think it is bad for oil price since literally it is using another source of fuel although it is not a very big threat.

Yes, it is not much good for the oil industry, it will have negative effects on the oil industry and will drop the value of oil, but still there are some industry which require oil for their use and electricity for those industries are useless.

Yes I agree with you there are still some factories which require oil for their use who can not provide electricity as energy and who have deficiency of electricity, so oil will have its value retained and electricity will also do its work.

[darewaller]

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?

Then you don`t know how much things are made from oil. It is used for fuel the most, but I don`t think electric cars will destroy oil industry.
And I think now in 21 century people need to realize what is good and what is bad for all of us. Why even talk about this? Is it more important for people to drive fast car or to live in healthy world?

I will choose for a healthy life not a fast car, and you will see more people will choose that option as health is more important for all of us and we are already bothered by the pollution in the air which is spreading  a lot of diseases.

[onlinedragon]

In the past years oil companies earned enough with something they digged from the ground. Such rich companies have to look further for other option they have so they can keep existing. Besides that we have enough oil for the next years but that period is over before you can imagine it.

[Razick]

Yeah, it might be, but I'm sure we'll have a need for at least some oil for a long time. Of course, what is interesting about this is that fear-mongers have been saying we're almost out of oil for, what, 50-60 years now?

If liberal governments ban fracking and other high-tech extraction methods, that could restrict supply, effectively creating a cartel which would allow oil companies to make huge profits again (at the expense of consumers).

[Razick]

In the past years oil companies earned enough with something they digged from the ground. Such rich companies have to look further for other option they have so they can keep existing. Besides that we have enough oil for the next years but that period is over before you can imagine it.

A lot of oil field services and drilling companies in Texas are actually fairly small businesses, many on the verge of bankruptcy. Low oil prices have actually allowed big oil companies to consolidate the industry.

[zimmah]

Oil is also used to make plastics, chemicals and jet fuel, and since jet fuel can't melt steel beams is not going to be replaced any time soon, they will still have some use.

As far as i know, there aren't many power plants anymore that generate electricity from oil, (electric cars need electricity too, so if for example 100% of our electricity would come from oil, then they would in fact be more polluting than regular cars).

If enough electric cars are being used and replace petrol cars, the price of oil might go down and this might have an impact on jet fuel and therefore also on plane tickets (fuel is a large part of the ticket price).

Airlines try to squeeze the maximum they can from customers. Crude prices have dropped to a third from their peak. Although fuel costs form a large part of the ticket price, I haven't seen flight ticket prices drop substantially.

well yes, they won't change prices if they don't have to, but if fuel prices remain low for long enough the competition between airlines will eventually cause ticket prices to drop.

also note that the oil price and the jet fuel price might not change at the same speed, because airlines often get contracts for months or even years for fixed rates on fuel.

If fuel price rises in the next few years the airlines might benefit from a fixed fuel price contract, but the flip side is that if the fuel price lowers than the airlines are forced to pay for overpriced fuel because they are contractually bound to take X amount of fuel a month by that company for an agreed upon price.

[Supercrypt]

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?

Then you don`t know how much things are made from oil. It is used for fuel the most, but I don`t think electric cars will destroy oil industry.
And I think now in 21 century people need to realize what is good and what is bad for all of us. Why even talk about this? Is it more important for people to drive fast car or to live in healthy world?

I will choose for a healthy life not a fast car, and you will see more people will choose that option as health is more important for all of us and we are already bothered by the pollution in the air which is spreading  a lot of diseases.

Electric cars will not destroy the oil industry but it will gave a little negative effect on the oil industry, the demand for the oil will be reduced and so the price will also dropped which will return a much less profit for the owners of the oil industry.

[ingenuity]

Even though EVs like the Tesla Model S and Nissan LEAF are mature product offerings that fit into a lot of peoples' lifestyles, we're still in that 2.5% "innovator" phase of the product adoption curve.  I think when we hit the latter phase of the early adopters phase that we'll see a noticeable downward pressure in oil sales from EVs.  When will we get to that point? Around 2019 is my opinion.