Are electric cars bad for the oil industry?

[martinacar]

I think they are not very bad for the oil industry because there will still be a need of oil to run this factory's and parts mostly also need oil...like brake oil...

[Bitcoinbee]

If you ask me,electric cars have no future.The slow loading is a big problem and EV are still very expensive.

If people invent hydrogen fuel,this will replace the gasoline.

Maybe the next 20 years, the oil industry will still dominate.

Yes I don't see the Oil industry slowing down in the next couple of century, oil producers will find a way to look for other oil fields. Nowadays they even come up with enhanced oil recovery to make sure there will be no left overs of oil in wells that they drill and develop. Lets keep in mind that most of cars, trucks or anything moving with wheels are designed for fuel consumption if there will be a shift to EV's then that will take a lot of time for people to buy and dispose old vehicles.

But people would really love to use electric cars as it is good for the environment, if the government would support that advocacy then the big businessman cannot do anything about it but to shift to other business and leave the oil industry.

Some other time it will be.  Inventions have been successful already regarding the use of alternative energy's but is being controlled for mass production due to the current promotion of what technologies has been on the market.

[socks435]

I think yes it can effect the oil industry if they release electric cars..
Also here in my country there a new car invented that you can use without oil and electricity but instead of oil he uses water as car gasoline..

If those are release oil industry will bankrupt..

[BillyBobZorton]

I have a friend that has a Tesla and he is putting a lot of money on the thing, so im not convinced about it yet. You buy an electric car to save expenses and it ends up being more money consuming...

[ardentvolcanoes]

I think yes it can effect the oil industry if they release electric cars..
Also here in my country there a new car invented that you can use without oil and electricity but instead of oil he uses water as car gasoline..

If those are release oil industry will bankrupt..

maybe there are vehicles in your country that are electric powered or hydropowered but i don't think it will affect the industry of oil , how about those Heavy Equipments used by factories , construction companies or etc . hydropower and electricpower is not enough for those vehicles or machines to work efficiently they would still need oil . actually those newly invented cars doesn't have a huge impact for the oil industry it takes more time or years before it happened .

[Mauser]

I recommend watching the documentary "Who killed the electric car" about the EV1 in California from the 90s. All of the big oil companies did everything they could to block the electric cars.

[xht]

If those are release oil industry will bankrupt..

It will never happen because the power generated by cars using fuel oil is much more powerful than the electric car.

[Raimonn]

I recommend watching the documentary "Who killed the electric car" about the EV1 in California from the 90s. All of the big oil companies did everything they could to block the electric cars.

Nice recommendation, i saw it some years ago, and its very interesting. GM killed an electric car that users say that was fantastic.

[Windpower]

Of course. Oil is mainly used as fuel for machinery. Vehicles are a big mechanical market. This will really shredding the market if cars turned electric.

[bryant.coleman]

Did anyone noticed this?

Tesla Will Become a $700 Billion Gorilla, Top Investor Suggests

http://www.bloomberg.com/news/articles/2016-06-07/tesla-will-become-a-700-billion-gorilla-top-investor-suggests

Billionaire investor Ron Baron predicted that Tesla Motors Inc. will become one of the biggest companies in the world over the next decade or two, growing twentyfold to a market value of about $700 billion.

Seems like Ron Baron is living in a dreamland. For Tesla to grow, they first need to look at the basics. They need new technology. The Lithium batteries are too expensive for ordinary people.

[Hatuferu]

Of course. Oil is mainly used as fuel for machinery. Vehicles are a big mechanical market. This will really shredding the market if cars turned electric.

Exactly, when the time comes that cars will be using electric to run we can see major improvement in the cars as we can easily integrate gadgets to our cars to make it more interesting to use.

[Mauser]

I recommend watching the documentary "Who killed the electric car" about the EV1 in California from the 90s. All of the big oil companies did everything they could to block the electric cars.

Nice recommendation, i saw it some years ago, and its very interesting. GM killed an electric car that users say that was fantastic.

Thanks.

Oil companies at this time bought the patents and leading battery manufactures just to stop the electric car trend.

They even had electric cars before WW2 https://en.wikipedia.org/wiki/History_of_the_electric_vehicle

[tabas]

Of course. Oil is mainly used as fuel for machinery. Vehicles are a big mechanical market. This will really shredding the market if cars turned electric.

But I think still oil will always be in the market but the use of electric cars as an alternative for the use of oil will really cut the sales of the big
oil companies because cars are one of the biggest consumer of oil.
And maybe it will become a threat to them if that happens.

[Doms]

I recommend watching the documentary "Who killed the electric car" about the EV1 in California from the 90s. All of the big oil companies did everything they could to block the electric cars.

Nice recommendation, i saw it some years ago, and its very interesting. GM killed an electric car that users say that was fantastic.

With the advancement in technology from 20 years ago, we still have yet to see mass produced electric cars dominating our roads. These big oil companies would do anything to stop electric cars from being developed further and to go to mass production.

[bitlancr]

In the long run it will be bad for the oil industry because I believe that more people will step over to electric cars in the future. I do believe that oil still will be needed in the future.

[Xenophoto]

In the long run it will be bad for the oil industry because I believe that more people will step over to electric cars in the future. I do believe that oil still will be needed in the future.

Oil will still be needed in the future because oil is used by the society not just to make a car run. But assuming that all cars will become electric cars, oil will be affected a lot. The oil companies might even do some promos just to promote oil-powered cars.

Having electric cars is good for the environment though. And also we all know that countries are fighting over the gas supply. Fuel is quite expensive too, so there's a possibility that people will soon use electric cars instead.

[hermanhs09]

I think they are not very bad for the oil industry because there will still be a need of oil to run this factory's and parts mostly also need oil...like brake oil...

Yeah but you've gotta admit that oil will be replace by something eventually. We cannot keep using up our Earth's supply of fossil fuel. There is not enough of the oil deposits out there to make the system work.

So yeah, electric cars are bad the the oil industry for sure.

[Ayers]

In the long run it will be bad for the oil industry because I believe that more people will step over to electric cars in the future. I do believe that oil still will be needed in the future.

electricity car require expensive station to refuel, and unless there will be huge panel installation, it will be hard to exand in soem country with low energy production i think, will not be that easy definitely

[bitcoin-hunter]

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

Maybe right now but I am sure that in the future people will go over to electric cars. Have you notice how many people get the Tesla s right now it is only going to be more.

[bamboylee]

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?

The oil has already been in trouble for months now though it is starting to recover again. Electric cars are good for the environment and should be used over fuel cars.  We should take care of the environment and technologies that use sustainable energy should be supported.