Are electric cars bad for the oil industry?

[Xester]

For a part they are but I also think that electrical cars still need oil for some parts and due to this factory's that are running still need oil to run all kind of things..

Of course some parts of the car will require oil. such as chain oil or oil for the machine. I think gasoline is not the only product of the oil companies? so the oil companies will remain live even if the car would turn out to be an electric car. Oil will remain in need

Bad sadly, the demand will be lessened because we only need a little oil to maintain our car then. That is still bad for the oil industry because they have invested much infrastructures for this business and their income will be minimize.

[Jmild1]

In my eyes they are bad because there will be less more oil needed and due to that the market will collapse soon or later.
For now its not bad due to the fact there are a lot of things depending on oil.

What do you mean?

Of course for oil industry it is bad due to a decrease demand but for the market and  you think it will collapse? No it wasnt. Market will just adopt new ways and thats replacing fuel based cars with electric cars. There's no big impact on the market but for the business man who run oil companies of course it will really hit them and they might disagree with this.

[carlisle1]

In my eyes they are bad because there will be less more oil needed and due to that the market will collapse soon or later.
For now its not bad due to the fact there are a lot of things depending on oil.

no that will never happen there will still be a high demand for oil , do you think that car is the only thing on earth that is needed an oil , well no , because some other industries are also using oil for a efficient power for production especially those factories .

[Zooplus]

In my eyes they are bad because there will be less more oil needed and due to that the market will collapse soon or later.
For now its not bad due to the fact there are a lot of things depending on oil.

no that will never happen there will still be a high demand for oil , do you think that car is the only thing on earth that is needed an oil , well no , because some other industries are also using oil for a efficient power for production especially those factories .

However if you will analyze cars are the major consumer of oils and gasoline, so if cars will shift to electric cars the demand will be low and the profitability of the industry will be badly affected.

[mzp]

Oil is the number one most versatile substance available to modern industry. Here is a presentation on youtube https://www.youtube.com/watch?v=Kxryv2XrnqM about how the uses in transportation and energy will likely change over the next 14 years.

[Mauser]

The American army is the biggest consumer of oil and that will not change for quite some time. Electro jets or tanks are just not working out at the moment.

Also, USA started exporting LPG due to fracking. As along as there is oil or gas available at reasonable production cost nothing will change for the producers. The consumer will not unite to force a change either. Maybe in some generations with more geopolitical impacts in the meantime.

[trickshot22]

In my eyes they are bad because there will be less more oil needed and due to that the market will collapse soon or later.
For now its not bad due to the fact there are a lot of things depending on oil.

i think you are right, it is better for oil industry when there are more users of fuel based cars in my opinion because then there is more oil consumed every day

i think electric cars would be a really bad thing for oil industry though the oil industry is still in good shape i think as there are really small amount of electric cars at the moment

[botany]

The American army is the biggest consumer of oil and that will not change for quite some time. Electro jets or tanks are just not working out at the moment.

Also, USA started exporting LPG due to fracking. As along as there is oil or gas available at reasonable production cost nothing will change for the producers. The consumer will not unite to force a change either. Maybe in some generations with more geopolitical impacts in the meantime.

USA may have been one of the biggest consumers of oil in the past, but things are changing. China and India are large consumers and if there is a cost benefit, they will definitely shift to electric cars.

[Dwelach]

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.

Off course are electric cars bad for the oil industry and that is not because electric cars dont burn oil becasue they use oil but only
to make the car parts move smoothly so i really think they need less oil so the industry will feel it.

[Lucas*]

i think in the long term it will be a problem for the oil industry , because when electric cars will be more utilised from population , the selling of oil will be reduced and it will be bad for the oil industry and the price of oil will be reduced more and more .

[Cozynunu]

Electric cars are really bad for the oil industry but that is not really such a big deal because not everyone is driving a electric car.
If the world change and everyone is going to drive electric cars we can say the oil industry can better stop.

[ultrloa]

i think in the long term it will be a problem for the oil industry , because when electric cars will be more utilised from population , the selling of oil will be reduced and it will be bad for the oil industry and the price of oil will be reduced more and more .

Thats really awfull and can kill the oil industries economy surely many foreign people will lose their job knowing many of their workers are overseas person, and also it can affect in global trade economy because they can also earn money buy trading oil in the market.

One of my cousin and her team from Pakistan has launched an electric car there, i dont think so it will effect oil industry because mainly people cant afford electric car what i think!

It cannot really effect if there are only few of them using it for now but what about if all people will shift to use e-cars? It can be a boredom for them that cam lead to closedown their beloved oil company.

[sishendaoye]

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 think that now it does not really hurt the oil industry because most people still own a vehicle that runs on oil. I do think that this is going to change in the future when more and more people are going to buy a electric vehicle.

[Dank Frank]

I hope it will destroyst the oil industry at some point, they have way too much influence in the world economy...

[Barnabe]

I hope it will destroyst the oil industry at some point, they have way too much influence in the world economy...

They are also investing in other things. For instance, qataris are investing a lot in France with their Oil money. They know it will not last forever so they are beginning to invest in several economic sectors.

[crairezx20]

I hope it will destroyst the oil industry at some point, they have way too much influence in the world economy...

For now they are oils are still useful and they are not bad for industry. once pinoy invention release world wide all oil company will bankrupt.. because they don't need oil to run cars.. because pinoy invented one car with water not a oil as gasoline.. its only a water..

[pearnapple]

Well I personally think it is bad for the oil industry if many will use electric cars. It will be bad because the demands will lessen. If the demands will lessen, so is the price.

thats true, if all people will decide to just use electric cars instead of just ordinary oil cars then there will be a huge crash in oil market i think and a lot of companies will go bankrupt

in my opinion electric cars are surely really bad for oil industry, though we still have a long time to go until electric cars will replace the ordinary cars so i doubt that we should worry about it

[Barnabe]

What if electric vehicules need more energy in order to be build and in overall require more fossile energy/products ? It would be a big dilemna for eco-friendly people.

[Dwelach]

Off course are electric cars bad for the oil industry but they will only feel it if we all are going to buy an electric car and i dont see that happen inm a couple of years so
Dont be afraid that the oil industry will collapse this times because he wont.

[Woshib]

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?

Electric cars will surely affect the Oil industry, because there will be fewer cars that burn fuel, and less demand for Oil.
But, I think it will not have a huge effect on the Oil industry.
Maybe in the future there will be new energy sources.