Are electric cars bad for the oil industry?

[hasiramasenju]

There is bio ethanol playing as replacement for % in benzine.

bio ethanol still less popular than gasoline and also factories must modify all standards engine for cars and production costs will more expensive if all cars in the world using bio ethanol and i'm so sure that factories owners will think twice for these

[Xenophoto]

Electric cars will only be bad for the oil industry as they kind of take away customers from them. This will result to oil industry being force to lower their price in order to attract customers.

[iv4n]

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?

Who cares for oil industry? Can we all agree once in this world that there is good things and bad things.  Industry is bad thing, oil industry is even worst then that. So tell me when we will start to thing I healthy way? Do you wish our kids to breath fresh air?
I don't know how people can be so lost.. how we can expect to be better if doing just wrong things?

[Icathia]

Yes it will be bad for the oil industry but it can better for the air of the people and that will be also cleaner so that is nice for our healthiness.
But there are not that many electric cars now but there will be more indeed soon.

[Sandroxa]

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 the long run it can be bad for the oil industry but now the oil industry continues to make millions of dollars. The majority of the people still owns a car that runs on gasoline of diesel.

[Indrawan77]

Of course there will be an impact to the car industry but the oil company cant die, there are a lot of other usage, like factory machine and others, so it will slow down the oil company but wont kill the company

[rababo]

I don't think it will make a great impact. Oil isn't only used for vehicles, It's used for all industries as energy resource.

[dothebeats]

I don't think it will make a great impact. Oil isn't only used for vehicles, It's used for all industries as energy resource.

It will make a great impact, seeing that almost a billion cars in the world are dependent on gasoline and diesel. Everyone knows that fossil fuel will soon run out and the world needs a sustainable and renewable energy source to keep the industries going for everyone-knows-when. Electric cars, on the other hand, may be bad for the oil industry, but in a larger picture, it is good for the world in reducing greenhouse gases emission.

[eternalgloom]

I don't think it will make a great impact. Oil isn't only used for vehicles, It's used for all industries as energy resource.

I think that the impact would still be pretty significant, especially when vehicles used for transport and construction get replaced by electric ones.
Oil is also being used to make plastic and a whole other range of products, but we're seeing a growing shift towards bio-degradable stuff.

[DeDordtenaar]

I don't think it will make a great impact. Oil isn't only used for vehicles, It's used for all industries as energy resource.

but at the statistics that the majority of oil is on the vehicle so if the vehicle uses electricity.
will certainly give a great effect on the company dude

[Olaf]

The industry is too huge to be dented in my view.

But I can be wrong, cause some saudiprince I forget awhile back was investing something energy investments instead of more oil projects.

I think I can find it again, but it was on vice or some other notable source like zero hedge.

[traderbit]

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 don't think that will affect the oil price because of the trending of electric cars, most of the things today works with electricity and oil so it should take lots of years maybe one or two decades until it will affect the oil price.

[Kevin77]

Electric cars will only be bad for the oil industry as they kind of take away customers from them. This will result to oil industry being force to lower their price in order to attract customers.

Yes, the electric cars have a good function in that way, that it will help us to decrease the price of oil. But if the electric car is performing well then why would then we need oil, and why would we wish the oil price to decrease?

[GamingBro]

If electric cars will become really popular, oil price will decrease a bit but it will not gain a huge impact cause oil using everywhere not only cars and we need to understand this fact.

[Xenophoto]

If electric cars will become really popular, oil price will decrease a bit but it will not gain a huge impact cause oil using everywhere not only cars and we need to understand this fact.

I don't think so. With the number of people who have cars, I'm pretty sure that the car user community consumes a big percentage of the total oil produced.




Almost all gasoline is being consumed by car users. Imagine removing that whole 47% part, that will surely give a big impact to the  oil companies.

Electric cars will only be bad for the oil industry as they kind of take away customers from them. This will result to oil industry being force to lower their price in order to attract customers.

Yes, the electric cars have a good function in that way, that it will help us to decrease the price of oil. But if the electric car is performing well then why would then we need oil, and why would we wish the oil price to decrease?

Simply because we still need oil for other stuffs. Oil isn't produced solely for cars.

And for the price decrease, the oil industry might use it as a marketing strategy to get some people go back to using oil powered cars.

[maudevang]

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?

Yeah in the long run it is going to hurt the oil industry there is no doubt about that. But most people still own a car that runs on gasoline it is going to take a long time for everybody to switch over to electric cars.

[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?

Yeah in the long run it is going to hurt the oil industry there is no doubt about that. But most people still own a car that runs on gasoline it is going to take a long time for everybody to switch over to electric cars.

Yes it takes long years to all people convert to electric cars and thats a very long years to run because people used to use gasoline cars but if that happen oil industry will be bankrupt and economy of thos oil driller will be devastated all though electric cars have good effects to our environment it can save us to disease low emmesion less polution to be make. But i dont think government will allow it becausenit can affect to global economy many people will lose their jobs.

[CroDam]

For sure they are bad for them and good for us.

[Whosdaddy]

Electric cars will only be bad for the oil industry as they kind of take away customers from them. This will result to oil industry being force to lower their price in order to attract customers.

Electric cars are better, but not better like oil engine cars, as oil engine cars are considered as with more power, they have more power to climb on inclined plans as compared with electric cars which are of a little less power.

[BitcoinBlackjack]

Electric cars are the first step. The truth is that so many industries are moving away from coal and oil and going towards renewables.
Oil is finished in the long term IMO