Are electric cars bad for the oil industry?

[nikko14]

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?

In my own opinion oil industry will not be affected much by that because some electric company need oil to generate electricity.

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[jimmihenrikh46]

Not Just Oil, Commodities Threatened Due to Tesla Electric Car Presence

[Nievs]

I think is a yes a lot of oil companies scared about that,
And the value of oil decrease .
Many of  oil company is going down if the demand of electric cars go higher or stronger ,
Infact electric cars are more eco-friendly/environmental friendly that's why some of the city's or country tried to reach out or studying  this idea because it will affect  in the economy

[adekpulpen]

it will affect world oil demand
Sales of electric cars in 2015 rose 60%, this 60% growth, equal to the 2 million barrel decline, world fuel oil by 2023
and if the increase in sales this year increases, it could trigger an oil crisis in the Middle East

[mininghubby]

There is no doubt that any thing which has low demand in market will decrease like, the price of oil will go down if the demand of oil will down also because of electric cars and that's a good thing for people that are still using cars and operated by oil and its not possible to decrease tje demand of oil operated card because the generation of electricity is also very expansive which also help oil operating car market.

[Katerina]

No. And that's why:
electric motors is new direction, that uses the electricity as a fuel which does not apply to exhaustible natural resources, the oil will be in safe and there will be an opportunity to create other ways of using this valuable product.

[ju5510993]

The good news for the oil industry is that electric cars will not have a substantial impact on demand in the short term.

In the long run, the development of electric vehicles will bring a devastating blow to the crude oil market. The sooner the oil industry is aware of the crisis, the more likely it is to find new growth opportunities in the changes that electric cars bring.

[Lasvista]

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?

And as you can see our world is evolving more , and I know you feel it as you can see many cars industry using electric cars some is using just mind. The fact is we are living on a modern society so basically the popularity of gas will go down just like you said , I think the oil industry will shut down cause the price though. So yep it will basically bad , and on the other hand some of the industry of oil will change into charging station I think , because cars who use electric need a battery so technically needed to be charge up , that's my thought.

[yrrehc16]

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, definitely, if all the cars will be by electric then oil will be in bad situations which will give our mother earth a cleaner health.
oil is one source of pollution in this world, and by reducing the consumption of this will get better and greener earth.
Well, oil is controlled by Government and elites.

[Xavieroz]

No, it will not be a problem for the oil industry. The initial idea that comes to mind when we refer to an electric car is that its use is good per se for the environment. But we forget about the manufacturing process, the subject of batteries but above all the origin of the electric power necessary to put that car into operation.

[harapan]

The development of the electric car industry will not reduce oil consumption significantly. Because the vehicle only consumes 21 percent in the consumption of oil around the world .. world oil consumption currently reaches 95 million barrels per day. The portion for land transportation especially for cars is not too big or only about 20 million barrels per day. That is, the share of world oil consumption for cars is only 21.05 percent .. so the use of electric cars do not reduce the world's oil consumption

[tanjohn]

For the Oil industry yes, but for the whole world then no. Oil companies know that they're going to die out sooner or later but I'm very sure that they'll try to hold out as long as they can. They probably have plans for when electric cars start to become mainstream but until then they probably have nothing to worry about other than pollution or save the earth groups.

[rickz026]

electric cars are popular now because this is eco friendly. i think, if the electric cars are used of big quantity of people the demand of oil will be decrease. and if this decrease the price of oil will be decrease also. the price of oil will be on-line of the daily maintenance of electric cars so that the people will think again if they will used permanently the electric cars or they will back to the oil cars.

[munareal]

Electric cars are not really bad for oil industry . It is just a disruptive technology for them. There are other ways to use oil . It is also their duty to find  have other means of using oil.

[whyrqa]

Electric cars are not really bad for oil industry . It is just a disruptive technology for them. There are other ways to use oil . It is also their duty to find  have other means of using oil.

There are people who will never want to switch to electric cars from their favorite cars with internal combustion engines. Thus, I would like to say that it is necessary to develop both industries and for all would be enough opportunities and profits. That's just oil tycoons in pursuit of excess profits to deal with the development of electric vehicles.

[Bezobraznike]

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?

   Tell me do you know what is important? Do we need to care
about oil industry or we need to care about benefit of the whole
wide world, including people, animals, and every other form of
life?
   Ask us is oil industry bad for us and entire planet?
   People always wish more money, more profit, we do not think about
each other. We do not think what is good for us, we just think how
to make some profit. That is why more people live in poverty, dieing
without clean water.
   I believe that you are asking wrong questions here.

[PatronRH]

Right now enectric cars are not a threat to the oil industry. Simply because most of the cars run on petrol so that one or two percent of electric cars doesn't really make losses to the oil industry but maybe in the future if the number of those cars increast due to the global warming and the smont of carbon of dioxide in the air that might be a problem for petrol companies.

[copypaper5]

I think it's bad for the oil industry, because it will lower oil sales.
In this sophisticated era all countries are innovating to make environmentally friendly transportation powered by electricity.

[SergeYak]

I don't think that oil industry losing many money nowadays because of electric cars but later they probably can lost a lot. Many people still not using electric engines.

[sajjad100]

In the first look, yes electric cars are really bad for oil companies. Because increasing of electric cars reducing oil consumption. So the oil companies are going to face a serious crisis. But on the other hand, electric cars are really appreciatable for environment's sake. Because they don't pollute the environment.