Are electric cars bad for the oil industry?

[knowhow]

Oil industry wont let electric cars get their market as long as they keep able to extract oil from Earth,till that ammount electric cars will be expensive then the oil is just an example and the low stations to provide those cars the fuel to run,being the future that change will take a long time till happen ,bitcoin mine will be over and oil industry will keep in power.

[botany]

Oil industry wont let electric cars get their market as long as they keep able to extract oil from Earth,till that ammount electric cars will be expensive then the oil is just an example and the low stations to provide those cars the fuel to run,being the future that change will take a long time till happen ,bitcoin mine will be over and oil industry will keep in power.

The role of oil industry is limited in electric cars. They can try to block subsidies and lobby governments, but they can't stop the march of technology. 

[Oralmat]

Oil industry wont let electric cars get their market as long as they keep able to extract oil from Earth,till that ammount electric cars will be expensive then the oil is just an example and the low stations to provide those cars the fuel to run,being the future that change will take a long time till happen ,bitcoin mine will be over and oil industry will keep in power.

The role of oil industry is limited in electric cars. They can try to block subsidies and lobby governments, but they can't stop the march of technology. 

There is not much involvement of oil in electronic cars and this is the reason mainly that Oil Industry do not openly support these cars. As if these cars become more popular, it will seriously dent on the profits of these oil industry.

[Enotche]

Bloomberg: electric cars will cause a new wave of oil price collapse

1) reduction of oil consumption, lower oil prices.
2) an increase in consumption of gas and coal (fuel for power plants).
3) the possibility of investing in the shares of companies with electric power underused capacity.
4) buying shares of electric vehicles manufacturers, battery producers (miners), non-ferrous metals.

[aakashsangwan]

Electric are definitely bad for oil industries but they are pretty good for environment. Biggest consumption of oil is in automobile sector and if we will remove it's need there then it will hit hard the oil industry. We still need to revolutionize the electric car industry as we are incapable of building high load carrying capacity cars. Electric car industry is still limited to small cars.

[senyorito123]

Electric are definitely bad for oil industries but they are pretty good for environment. Biggest consumption of oil is in automobile sector and if we will remove it's need there then it will hit hard the oil industry. We still need to revolutionize the electric car industry as we are incapable of building high load carrying capacity cars. Electric car industry is still limited to small cars.

electric cars really a big treat for oil industry because automobile sector is the biggest consumer of oil and if that happens well it could be mass delimna for the country relying for oil and its totally economic devastition for economy not only in oil players but also in whole world,

[knowhow]

Electric are definitely bad for oil industries but they are pretty good for environment. Biggest consumption of oil is in automobile sector and if we will remove it's need there then it will hit hard the oil industry. We still need to revolutionize the electric car industry as we are incapable of building high load carrying capacity cars. Electric car industry is still limited to small cars.

electric cars really a big treat for oil industry because automobile sector is the biggest consumer of oil and if that happens well it could be mass delimna for the country relying for oil and its totally economic devastition for economy not only in oil players but also in whole world,

When these cars became potencial problem to oil industry i believe they will close their doors and moove into developement of the new cars,if they arent already being part of those companies.If i know my industry will kill over the years i would invest some of mine portfolio into the other that will grow soo i doubt those companies arent already thinking in a way to be present into the new future cars,being part of production or providing the battery to the cars,they are thinking how to act over the years for sure.

[MingLee]

Electric are definitely bad for oil industries but they are pretty good for environment. Biggest consumption of oil is in automobile sector and if we will remove it's need there then it will hit hard the oil industry. We still need to revolutionize the electric car industry as we are incapable of building high load carrying capacity cars. Electric car industry is still limited to small cars.

electric cars really a big treat for oil industry because automobile sector is the biggest consumer of oil and if that happens well it could be mass delimna for the country relying for oil and its totally economic devastition for economy not only in oil players but also in whole world,

When these cars became potencial problem to oil industry i believe they will close their doors and moove into developement of the new cars,if they arent already being part of those companies.If i know my industry will kill over the years i would invest some of mine portfolio into the other that will grow soo i doubt those companies arent already thinking in a way to be present into the new future cars,being part of production or providing the battery to the cars,they are thinking how to act over the years for sure.

You might as well start investing in electric car companies then.

Electric cars are going to become more and more popular over the next decade or two, and companies such as Tesla are leading the charge towards the normalization of electric cars. Oil will still be used for energy generation and various other petroleum-based materials, but there is a move that is slowly shuffling away from oil and towards electricity. If fusion ever gets to a viable state as well, then we will see oil be relegated to materials and manufacturing instead of energy production.

[crazyearner]

electric cars and water powered are the future theirs only so much oil in the world and future has to change in way we think about general travel and generation of energy. Oil is old dirty and expensive. electric, water or other ways to produce is clean and can easily be generated from many ways with electric production from solar power stations and simple plug in charge power up and drive. Petrol is expensive and if I had the option to buy an electric powered car and have many places to power up I would swap over in a heartbeat. Theirs not even stations where I am that have stations to power up but its catching on and eventually most will have at stations to power up. Once this happens am going to be making the switch. It wont be bad for them but in terms of oil being used it will be less and less used so a good thing to keep reserves up and cheap to buy.

[yenxz]

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 country electric car not popular and not yet mass producted,its why i never worry about economic unstable in my country,because my country still depend on oil trade. and of course i dont think oil industry will get bad effect because existence of electri car,because so many village and city still need oil for their car and other need.

[tabas]

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 country electric car not popular and not yet mass producted,its why i never worry about economic unstable in my country,because my country still depend on oil trade. and of course i dont think oil industry will get bad effect because existence of electri car,because so many village and city still need oil for their car and other need.

Electric cars is much more expensive rather than using oil. And I think electric cars will somehow kill the industry of oil in the economy.
But of course oil player have plans for that if that happens.

[Cyaren]

Yeah, if you say so. Oil is going to run out eventually, and has to be replaced with something more sustainable. So the demand for oil will disappear eventually.

Electric cars might phase out the demand for oil quicker, but generally IMO it's not that much of an impact on the oil industry.

[bryant.coleman]

Bloomberg: electric cars will cause a new wave of oil price collapse

1) reduction of oil consumption, lower oil prices.
2) an increase in consumption of gas and coal (fuel for power plants).
3) the possibility of investing in the shares of companies with electric power underused capacity.
4) buying shares of electric vehicles manufacturers, battery producers (miners), non-ferrous metals.

Rubbish. The electric cars are at least 10 times more expensive than diesel or gasoline driven vehicles with similar features, and only a select few can afford to have them. Electric cars are almost non-existent in countries such as India, China, and South Africa where the maximum growth in car-ownership is occurring.

[tabas]

Yeah, if you say so. Oil is going to run out eventually, and has to be replaced with something more sustainable. So the demand for oil will disappear eventually.

Electric cars might phase out the demand for oil quicker, but generally IMO it's not that much of an impact on the oil industry.

Yeah, the demand for oil will disappear somehow, IF all cars all converted already into electric cars. But I think not all people will shift into
electric cars because electricity is much more expensive than oil. Here in our country.

[praprata]

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.

Yeah it is not a big threat right now because the majority of the people still use vehicles that make use of oil. But when the times comes when not only cars are going to make use of electricity then it can become a threat.

[rektDude]

Of course are electric cars bad for the oil industry. If cars only drives on electric they dont need so many
oil only to keep there things drive but further nothing so the oil will lose his price.

[MaritiJames3]

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

Oil is going to at 0 in the long run because it is not like we have unlimited amount of oil. So we really have no chance to move on to electricity. 

[Adrorecia]

of course they are bad for the oil industry. If you drive a electric car you don't use allot of
oil maybe just to keep all the mechanics rolling but not for the engine. So if everybody is going to drive a
electric car it is BAD for the industry of oil.

[Mr.grin]

I think yes, it probably would make little loss of the oil industry, because I think the purchase of oil for the car may be somewhat reduced and perhaps someday will stop if it continues to be developed

[Pitchblackroom]

Oil has had multiple losses in the past few years. The rise of using natural gas as a heating method instead of Oil since it is a lot cheaper. Also in the cars like this thread explains.
However I do think that Oil will still be around in developing countries and there will always be a demand.