Are electric cars bad for the oil industry?

[saiha]

Oil players now are having a problem especially those who are getting there supply from Middle East. There is an  oil crisis now happening in the Middle East that rumors I have heard that they are planning to have an alternative source of energy instead of oil.
I don't know if that will happen soon.

[italianobitcoin]

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?

of course are electric cars bad for the oil industry. that's because electric car don't or barely uses oil for
their engine. So if everybody is going to drive an electric car the oil industry will feel it.

[romero121]

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?

of course are electric cars bad for the oil industry. that's because electric car don't or barely uses oil for
their engine. So if everybody is going to drive an electric car the oil industry will feel it.

That's right, at the same time we are in need to consider and calculate how long its possible to get oil. So some alternate source is require to fill that place.

[mindrust]

Bad for the oil industry, good for the people.

When electric cars become more common, oil sales will go down, so oil prices will be much cheaper in order to compete with electric.

[bryant.coleman]

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.

You are spot on. Natural gas is a bigger threat to gasoline than electric cars / lithium batteries. Already many of the developing nations (including China and India) are encouraging the automobiles to use CNG instead of diesel and gasoline. CNG results in less pollution, and right now it is more affordable when compared to diesel and gasoline.

[Nowl1935]

I think it is bad for oil industry, If all cars is electricity ran, The oil will be going down cause the most buyer of oil is the car users, if they use electric car no one car user will buy it

[arwin100]

Bad for the oil industry, good for the people.

When electric cars become more common, oil sales will go down, so oil prices will be much cheaper in order to compete with electric.

Yeah its really bad for global market trade and maybe it can affect of some countries that mainly relay on oil as their main source of their country economy it can also affect to some nation because some of them getting high percentage of tax to oil players in whole world, electric cars realy devastating because many people lose their jobs and surely oil relying countries will not be the king now. But electric cars my help for  our environment because it is not blasting black smoke that contaminate the air and it can lessen the pollution.

[ObscureBean]

Probably. Oil companies will just have to morph into something else and they won't be missed as far as I'm concerned. Pollution in cities is so freaking bad, I can't wait for the day when every vehicle on the road runs on electricity. 

[zPanda]

In the LRAC Curve, the value of oil is forever diminishing.

[botany]

Probably. Oil companies will just have to morph into something else and they won't be missed as far as I'm concerned. Pollution in cities is so freaking bad, I can't wait for the day when every vehicle on the road runs on electricity. 

Yes, that could be one possibility.
Goldsmiths just morphed into banks and continued what they were doing.
Similarly, oil companies could just evolve.

[newcoins1978]

Probably. Oil companies will just have to morph into something else and they won't be missed as far as I'm concerned. Pollution in cities is so freaking bad, I can't wait for the day when every vehicle on the road runs on electricity. 

There are enough reasons not to believe oil is the future, being bad the environment f.e. But the moment the economy starts growing again (china and india) the oil price will go back up agian. Their demand for oil with old skool machinery can create a enormous demand for oil.

[upsidedown75]

Probably. Oil companies will just have to morph into something else and they won't be missed as far as I'm concerned. Pollution in cities is so freaking bad, I can't wait for the day when every vehicle on the road runs on electricity. 

There are enough reasons not to believe oil is the future, being bad the environment f.e. But the moment the economy starts growing again (china and india) the oil price will go back up agian. Their demand for oil with old skool machinery can create a enormous demand for oil.

As far as I know, around 70% of our energy needs is provided by oil. The 'future' that you are talking about may be a few generations ahead of us since there are still some untapped oil reserves underground.

Although I admit that this kind of thinking is just cruel since from how I said it, we're only thinking of ourselves and not for the next generations.

[Finestream]

This is a no brainer question, the answer is obviously yes. It is really bad, as bad as hell, they cannot profit from us anymore that is why they will never allow that. In our country I can say that oil industry are greed, they will not support any invention or product that would jeopardize their industry. Like the one I heard in the news that he can make a car run with just the use of water as it fuel, but our government does not buy that shit because they are corrupt and controlled by big crocs businessman.

[expert4knowledge]

I think it is bad for oil industry, If all cars is electricity ran, The oil will be going down cause the most buyer of oil is the car users, if they use electric car no one car user will buy it

It is correct that a large percent of oil users are cur owners but some large percentages of oil is used in industries  such as petrochemical industries.

[speaktome]

Electric cars perhaps bring a more serious problem of contamination in the future because of the chemicals its use on theirs batteries. Or not? About question  I think that yes because its dont need fuel so oil industry is affected.

[eternalgloom]

Oil players now are having a problem especially those who are getting there supply from Middle East. There is an  oil crisis now happening in the Middle East that rumors I have heard that they are planning to have an alternative source of energy instead of oil.
I don't know if that will happen soon.

There are already tons of alternative options instead of oil, they're just still not that widely spread. It definitely takes time for a new energy source to become mainstream, electric cars still have a long way to go, but once governments start banning buying new cars with gasoline engines, this could change pretty rapidly.

[mindrust]

The only thing concerns me with the electric cars is the battery replacement after 10 years.

Tesla is doing it for 25k-40k$ if i remember well and they predict a full battery replacement will cost 12.5k$ in the near future after the Gigafactory is opened. Still i don't think there is unlimited Lithium supply in the world just like there isn't unlimited oil supply. So when those electric cars sold in high numbers and when their battery replacement time comes, what is going to happen?

[haseeb ahmed]

yes it will effect oil industry badly.i think billions of cars are running on oil and if only half of them convert to electricity it will clash oil industry,and it will directly effect the economy of many countries

[Altynbekova]

I consider it not as bad to be honest because the fact is that the oil industry will not be influenced by it.
I think there will always be a need of oil for factory's and other stuff.

[expert4knowledge]

Electric cars perhaps bring a more serious problem of contamination in the future because of the chemicals its use on theirs batteries. Or not? About question  I think that yes because its dont need fuel so oil industry is affected.

Unfortunately now only the positive aspects of electronic cars is bold and it may take some years for revealing negative aspects.