Are electric cars bad for the oil industry?

[Yakamoto]

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.

Fusion energy is one hypothetical means of a new and nearly infinitely-sustainable energy source, which would be able to generate basically free electricity, and this would more or less completely end what the oil industry has established, and oils would be used more to generate plastics and other petroleum-based substances.

Less cars using oil means nothing right now though, as most cars are still gas-based and a lot of electric cars are too expensive for most people.

[Hatuferu]

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.

Fusion energy is one hypothetical means of a new and nearly infinitely-sustainable energy source, which would be able to generate basically free electricity, and this would more or less completely end what the oil industry has established, and oils would be used more to generate plastics and other petroleum-based substances.

Less cars using oil means nothing right now though, as most cars are still gas-based and a lot of electric cars are too expensive for most people.

Yeah, but the good news is we were able to see electric cars already and base on that we can have a chance to see more in the future, and when that would happen the demand will increase as the price will drop on cars and becomes more affordable for us.

[quentincole32]

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.

how can you so sure that electric car will bad for oil industry?dont you think that oil not just used as fuel?its why i thin electric car will not kill oil industry market,its jut make they make more great inovation for car.

[Barnabe]

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.

how can you so sure that electric car will bad for oil industry?dont you think that oil not just used as fuel?its why i thin electric car will not kill oil industry market,its jut make they make more great inovation for car.

Oil used for products other than combustible will not be a problem if the cars stopped using gas. There would still be plenty of available oil fields and most of their (even reduced) production is more than enough for asphalt/plastic and so on.

[MaritiJames3]

I like electric cars, but at this moment, they aren't a problem for oil industry. Oil industry needs will have some more good years. Electric cars need at least 10 years, need more development on batteries, and charging stations.

I also do not think that at the moment it is really a problem for the oil industry but this is going to change a bit in the future when more people are going to get in to electric car and vehicles in general.
Oil is however going to be needed because not only cars make use of oil also machine for the industry needs oil. So oil is going to be sold no matter what.

[bitlancr]

I like electric cars, but at this moment, they aren't a problem for oil industry. Oil industry needs will have some more good years. Electric cars need at least 10 years, need more development on batteries, and charging stations.

I also do not think that at the moment it is really a problem for the oil industry but this is going to change a bit in the future when more people are going to get in to electric car and vehicles in general.
Oil is however going to be needed because not only cars make use of oil also machine for the industry needs oil. So oil is going to be sold no matter what.

Yeah it is going to be bad for the oil industry in the long run because I believe that in the future more people are going to step over to the electric vehicles.
And that makes sense because in the long run they are going to save allot more money then now.

[saiha]

I like electric cars, but at this moment, they aren't a problem for oil industry. Oil industry needs will have some more good years. Electric cars need at least 10 years, need more development on batteries, and charging stations.

I also do not think that at the moment it is really a problem for the oil industry but this is going to change a bit in the future when more people are going to get in to electric car and vehicles in general.
Oil is however going to be needed because not only cars make use of oil also machine for the industry needs oil. So oil is going to be sold no matter what.

Yeah it is going to be bad for the oil industry in the long run because I believe that in the future more people are going to step over to the electric vehicles.
And that makes sense because in the long run they are going to save allot more money then now.

Definitely that is a threat for the oil industry. Even though oil is not just used for the cars as well with different appliances , machinery and other types of mechanical things.
But still it would be a big loss for the oil industry if electric cars will dominate in the vehicle industry.

[BitcoinPaw]

Sure that electic cars have impact on oil industry but without statistic we can't say how huge this impact is, at my opinion it's minor, because elecric cars still not so popular.

[Ziskinberg]

Sure that electic cars have impact on oil industry but without statistic we can't say how huge this impact is, at my opinion it's minor, because elecric cars still not so popular.

We don't need to have an statistics because the is very simple and easy to analyze, imagine how many car owners in the world that would adopt to electric cars, that would be a huge loss for the oil industry.

[tabas]

Sure that electic cars have impact on oil industry but without statistic we can't say how huge this impact is, at my opinion it's minor, because elecric cars still not so popular.

We don't need to have an statistics because the is very simple and easy to analyze, imagine how many car owners in the world that would adopt to electric cars, that would be a huge loss for the oil industry.

Definitely we don't have to have statistics for this kind of matter for oil industry. As we all know that cars are the most consumer of oil in the world.
So it will really have a bad impact for the oil industry if the cars will be changed into electric cars.

[OrangeII]

Sure that electic cars have impact on oil industry but without statistic we can't say how huge this impact is, at my opinion it's minor, because elecric cars still not so popular.

We don't need to have an statistics because the is very simple and easy to analyze, imagine how many car owners in the world that would adopt to electric cars, that would be a huge loss for the oil industry.

you're absolutely right, maybe the oil industry will be a very big loss with if electric cars are already starting to be used throughout the country. I guess 70% of their income will be reduced

[BlueStackz]

Sure that electic cars have impact on oil industry but without statistic we can't say how huge this impact is, at my opinion it's minor, because elecric cars still not so popular.

I believe that the electric cars will have huge negative impact on the oil industry. We don't not require the statistics to confirm that. The oil industry is part of the elite global group and always discourages the invention of electric cars.

[RastoMan]

In the future, the oils will be mainly used in petrochemicals. There is constant demand for the oil in the future.

[bitlancr]

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.

They are bad but its also depending on what kind of cars, factors will always need oil as a example and these cars also use oil as a example for the brakes.
So I think it will never be a very big problem, it will be less more but stil needed.

[phreaky]

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 they are going to be more popular in the future so in the future it is going to hurt the oil industry and that is just a fact.
Oil is still going to be sold but not as much as it used to be, I think that over 20 years we are going to see it.

[tabas]

In the future, the oils will be mainly used in petrochemicals. There is constant demand for the oil in the future.

Yes that is true, even cars are going to be run by electricity. Oil is always in demand in other things.
And for sure it will not cause the oil industry to shut down.
But it will have a very bad effect for oil industry.

[Mauser]

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 they are going to be more popular in the future so in the future it is going to hurt the oil industry and that is just a fact.
Oil is still going to be sold but not as much as it used to be, I think that over 20 years we are going to see it.

The price for oil and gas is not really dropping due to the decrease in demand but due to the increase of supply. The biggest factor being USA with their fracking turned from importing country to an exporting country. Also Iran Is allowed to sell oil again. The world won't change as long as the oil and gas is cheap.

[Enotche]

Billion new cars with internal combustion engines by 2030 will require an additional 17 mb / d of oil and 55 million electric vehicles will be able to "take" only 1.8 mb / d in oil. The figures are not comparable.

The last 30 years, demand for oil will increase by 1.2 mb / d per year. To a significant impact on the demand for electric vehicles should take, for example, about 0.7 mb / d of the 1.2 mb / d. To do this, by 2030 electric cars have to park 250 mln. Pieces. That looks highly unlikely. And then, the demand for oil will still continue to grow for the remaining 0.5 mb / d. To completely stop the growth of oil consumption in 2030 will require 330 million. EVs.

Thus, the electric pressure on the oil industry will be hardly noticeable in the next 15 years and the idea of ​​"waste oil" does not hold water. If you look for 2030, we can say with certainty that the demand for oil will continue to rise.

[MFahad]

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.

Electric cars can be a good addition but there is no shortage of Oil in the world. Alone USA has reserve of OIL for the next 100 years. So making electric cars is good initiative  but it is not because of oil Shortage.

[romero121]

To certain extent oil industry gets affected by the electric cars, but sure they will be having alternate solutions. Both electric as well oil cars both have advantages and disadvantages. So something which reduces the disadvantages mostly the pollution needs to be given preference unlike the profit or loss.