Are electric cars bad for the oil industry?

[Decoded]

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?

[alani123]

Of course they are, oil is going nowhere in the long run.

[Meuh6879]

EV is like mac ... less than 2% in the world. 

[n691309]

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?

At the moment, i think that it will not affect the oil industry directly, but producing, for example, a Tesla car pollutes more the environment comparing to other vehicles.

[alani123]

EV is like mac ... less than 2% in the world. 

Most big car companies have started producing electric powered models and renewable energy is on the rise. It doesn't look good for oil either way.

[Fortify]

Those in the oil industry must know that they are working with a finite resource, however the price will fluctuate wildly but the long term trend is up. It's just whether all the current systems that run on oil can be converted to other power sources before it runs out. Oil will be fine for a while, it's in a glut right now but that can tighten right up any day.

[Raimonn]

I like electric cars, but at this moment, they aren't a problem for oil industry. Oil industry needs will have some more good years. Electric cars need at least 10 years, need more development on batteries, and charging stations.

[Yakamoto]

Not going to lie, this almost seems like a brain-dead topic. "Are competitors bad for an industry?" Well, yeah, they are.

In my opinion, oil should be used for plastics. There should be a massive push to move electric cars towards large-scale use and there should be more money being put into Fusion reactor development. This way electric cars would be far easier and less expensive to charge, and it would allow for us to be able to primarily avoid most of the issues of global warming.

[silentkiller]

Yes it is, if all the cars where electric then theres no point to pump and pump oil, cause it will be useless,  and the price oil will become deeper and deeper until it reached 1$

[Pab]

Sure it is some trouble but some not big Oil prices are driven by speculative market dollar up oil down
dollar down oil up but price around 100$ a barrel it is history

[shintosai]

for me it will in somehow but not really because oil use for lots of thing and it is a good competition if cars makers will build more EV but it is tradition to use oil so there still a lots will keep using oils instead of EV maybe in the near future will see this and how ev will really affected oil industry.

[Kakmakr]

I want to see Bitcoin being incorporated from where the electricity is being generated, to the point where people pay for at the charging stations. There should be mini stations built into parking meters on the street and you will only have to scan a QR code with it's address and pay for the electricity with micro payments. I can already think of many other applications where people can have charging stations built into their post boxes at home and where strangers can charge up and pay for electricity in emergency situations, when they run out of electricity. ^hmmmm^

[KenR]

I want to see Bitcoin being incorporated from where the electricity is being generated, to the point where people pay for at the charging stations. There should be mini stations built into parking meters on the street and you will only have to scan a QR code with it's address and pay for the electricity with micro payments. I can already think of many other applications where people can have charging stations built into their post boxes at home and where strangers can charge up and pay for electricity in emergency situations, when they run out of electricity. ^hmmmm^

In the name of Holy Christ.What did I just read ?Bitcoins incorporated from where electricity is being generated.Have you ever thought of reading through any of the actual concepts including Bitcoins,how do they work,electricity,how charges are being transferred ? That post of yours sir is the main reasons why parents force us to go to School.

[SFR10]

I doubt there would be any significant and instant effect to this matter, even though electric cars have brought new market for consumers. At the moment, percentage of people owning one of these vehicles is way below a range that would do any damage to oil industry. If the trend keeps going for the next 10 to 15 years then sure enough it could have an impact, assuming no other usage for gasoline (which there are some other uses).

[john2231]

Maybe it is . Maybe its not because when majority of the people are using electrical cars we can. have a longer use of oil and also. it is good for oir environment. not just electrical cars we can also have a multiple electrical transportation vihicles.

[ebookscreator]

Well i think if more people use electric cars it can effect the price of oil in our industry so its bad.. but i think it will not happen even in future..
Even we are using electric cars any transportation there's still a chance to use oil to have electricity.. they are just balancing the use of our oil and electricity...

[kollo99]

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?

Oil industry have also other way to make money.... not only car... there is industry that need OIL!

[tiggytomb]

Yes, in the same way bitcoin is bad for fiat.  Oil will run out eventually, there are also cars that can run on water and apparently with little change to the current engine, of course this will never take off as where would the corporations make money from water powered cars?.

[pedrog]

...there are also cars that can run on water and apparently with little change to the current engine, of course this will never take off as where would the corporations make money from water powered cars?.

LOL, if such a thing was possible the company who came out with the first working model would become the biggest company in the world.

[hasiramasenju]

electric cars are the future of cars and i would says yes these things bad for the oil industry because if electric cars has already mass produced
i think people will more likely use these cars and will leave gasoline-fueled cars