Are electric cars bad for the oil industry?

[cryptoblue77]

Yes, electric car is bad for oil industry but good for environment. Electric cars will go a long way to keep the air we breathe cleaner.

[1715639623]

1715639623

[Chrystora123]

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 that should happen,
we all know electric cars are very environmentally friendly and even so the oil industry will still be in need for a long time....

[Netnox]

Yes, electric car is bad for oil industry but good for environment. Electric cars will go a long way to keep the air we breathe cleaner.

But right now they are having a minimal effect. In 2010, there were a total of 1.015 billion motor vehicles in use in the world. Out of this, just around 0.2% are electric driven. The rest are either gasoline/diesel/CNG powered or hybrid vehicles.

[splat44]

As of now Oil industry is in demand right now, and we have diesel and gas car engine which were using. but in the long run electric car companies are making popularity in the next 10 years.

[Redanim]

It all depends from country government, what kind of plans they have for their economy and development their infrastructures. Gasoline will never go down, it is profitable for any government to raise its price for getting more demand, and also same government get procents from it, they raise taxes on the extraction of minerals, they also increase excise taxes on gasoline. Electric cars will soon replace at least half of cars which runs on gasoline or gas, but gasoline price will always rise.

[Qorio]

Yes, electric car is bad for oil industry but good for environment. Electric cars will go a long way to keep the air we breathe cleaner.

But right now they are having a minimal effect. In 2010, there were a total of 1.015 billion motor vehicles in use in the world. Out of this, just around 0.2% are electric driven. The rest are either gasoline/diesel/CNG powered or hybrid vehicles.

Such a market to be conquered!

[Yassine96]

the oil will disappear one day,
so it's good to think of an electric car, and whoever one day they invented a car that works with water,
because also one day the energy will disappear

[Viscera]

It all depends from country government, what kind of plans they have for their economy and development their infrastructures. Gasoline will never go down, it is profitable for any government to raise its price for getting more demand, and also same government get procents from it, they raise taxes on the extraction of minerals, they also increase excise taxes on gasoline. Electric cars will soon replace at least half of cars which runs on gasoline or gas, but gasoline price will always rise.

This might be life changing event in the history were all gas car company will switch to electric cars. this make the economy will grow better more infrastructures will be develop and all oil mining companies started to loose.

[jmiro1]

Maybe you didn't read about economics from the books. Look, do you know what "complimentary goods" and "supplementary goods" are? Let me gave you two examples. When you buy some papers, you need a pen to write on it. Again, when you buy a pen, you need papers to write. This pen and papers are complimentary goods. Beef and chicken are supplementary goods. When one of their price rises, people go for the other one. Similarly, when one of their price goes down, people go towards it. Electric car and fuel cars are supplementary goods. Therefore, electric cars are "bad" for the oil industry, simple as that.

[Qorio]

the oil will disappear one day,
so it's good to think of an electric car, and whoever one day they invented a car that works with water,
because also one day the energy will disappear

Energy can never disappear it can only change into something else

[baracuda212]

definitely bad, if the electric car is produced in large quantities, then the oil company will go bankrup

[Yanisumin]

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?

( Elon Musk fan here )
The oil industry is in trouble for the last 2 years (even my father lost his job in the middle East oil plant) because investors are backing out in mining oil because they might not be able to get the return of their investment for the next 25 years. According to some scientist the oil industry will only last for the next hundred years. We've been exhausting it's supply because of too much demand in the last decades.
It is in trouble of course in the long perspective. New batteries (lithium air), electric cars (Tesla cars) and other renewable energy (solar and tidal) is on the way of empowering the world (electrical engineering profession here)
And as the way things are in the power industry, sooner or later the oil usage will be lessened and this is a good sign for the health of the mankind and the protection of the invironment.

[Jedzkie050617]

It all depends from country government, what kind of plans they have for their economy and development their infrastructures. Gasoline will never go down, it is profitable for any government to raise its price for getting more demand, and also same government get procents from it, they raise taxes on the extraction of minerals, they also increase excise taxes on gasoline. Electric cars will soon replace at least half of cars which runs on gasoline or gas, but gasoline price will always rise.

Electric cars is never been bad in the oil industry. Oil is already proven many years that it gives a lot of help to each and everyone of us, to make us easier and comfortable. Electric cars is just an alternative transportation since it will never a good quality in terms of speed and durability compare to Oil cars, but electric cars is an eco friendly equipment. I would say that maybe someday most people will use electric cars since the price of oil getting high as of this days.

[Qiuyue201]

definitely bad, if the electric car is produced in large quantities, then the oil company will go bankrup

Bad for the company, good for the entire environemnt, it make our planet have less car emission and population, we could live a better life out of this downfall of the oil industry.
But it seem that it's still far ahead, even japan already producing hydrogen fueled car, the future is now.

[magnum357]

Maybe yes because when the electric cars will be rise on the streets probably the oil industry will react beacuse the encome of the companies in oil industry will automatic going down.If electric cars will more and more every year and oil indsutry will be affected and this is a big problem to those who invest in oil company.

[0t3p0t]

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?

We have to expect the evolution of technologies from time to time. There are new technologies exists almost everyday anywhere in the world. It could be a government backed invention, self proclaimed or a  company based and whatever we call them. Technological advancements and innovation makes our daily lives more easier and comfortable. Just like what we are discussing here where fuel evolve from fossil fuels into electric into water that has unending supply compared to fossil fuels/oil that is only located to limited parts of the world. Electric is also unlimited just like water so I think it is an environment friendly energy effecient that can be used in almost any motors or machines that uses fuel. I think oil companies will lessen or decrease it's demand and for me gasoline/oil cause any harmful effects to nature unlike electric and water energy which I think produces no or less emmisions. Electric cars really makes oil campanies bleed that much but I think that we still need oil industries in the long run.

Water powered car links:

1. https://mobile.facebook.com/funkyouentertainment/posts/1514921432170908?_rdc=1&_rdr

2. http://www.wheninmanila.com/filipino-invention-allows-vehicles-to-run-on-water/

[lvincent]

Right now electric cars are just starting to gain the attention of some consumer so i think right now the affect of electric cars in the oil industry is not that big but when, but when mass adoption of electric cars happened then i think the oil industry is in trouble. Most of the people gonna buy electric cars instead of those who are run by oil.

[L00n3y]

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?

Cars is only a portion of the total vehicles that uses gasoline. At the moment it does not by all means affect the price of gasoline and the oil industry.

[Sled]

I think that they are bad for oil industry because electric cars will give a huge damage in the oil industry and because of that, the oil industry might go down and have a huge losses and the time for electric unit like cars or motors will boom and that is the result of change because the only consistent in this world is change and right now it is slowly going into the era of technology.

[ask]

Electric cars are good for our earth so who cares those greedy oil manufacturers? We don't need oil for energy we can solve all energy problems with naturel green energy sources.