Are electric cars bad for the oil industry?

[diodio5]

|Off course are in some way electric cars bad for the oil industry can they also make oil industry disappear i dont think so because there will
always be people who dont want to drive in electric cars.,

nope i think it would hurt the oil companies? certainly! but if made oil firms become dissapear it is impossible i think. oil users not only in car or motorcycle riders? although they are the largest users. but there are many other users in addition to transportation right?

[tabas]

|Off course are in some way electric cars bad for the oil industry can they also make oil industry disappear i dont think so because there will
always be people who dont want to drive in electric cars.,

nope i think it would hurt the oil companies? certainly! but if made oil firms become dissapear it is impossible i think. oil users not only in car or motorcycle riders? although they are the largest users. but there are many other users in addition to transportation right?

It is really going to have big effect in the oil industry if the cars are going to be electrify and going to use electricity instead of oil.
But of course the use of oil is everywhere.
But it is going to have big slash for the oil companies if cars are going to adopt electricity.

[clickerz]

nope i think it would hurt the oil companies? certainly! but if made oil firms become dissapear it is impossible i think. oil users not only in car or motorcycle riders? although they are the largest users. but there are many other users in addition to transportation right?

Maybe it has a significant effect but not that much as petroleum oil is still widely used. Though electric/hybrid car is being introduced but the percentage of person using it is small. There are also e-cars that are produced but are stll expensive and only a few can afford it. Most electric vehicle I see is the e-bike from Chinạ,cheap but not sure of its qualitỵ

[Xester]

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?

It will not be bad for oil industry. Actually the oil supply was always short due to higher demands from consumer and it leaves oil with higher prices. Using of electric cars will somehow balance the price of oil in the market and also it will balance the demand and supply. Though electric cars are getting popular but in terms of performance oil as source of car power is still unbeatable.

[Zadicar]

It would definitely affect the oil industry when electric cars would be the trend but it takes time to fully replace it because EV is more expensive I guess than those normal cars nowadays. Ev needs more improvements in able to use it in everyday living.

[Dr.Osh]

It would definitely affect the oil industry when electric cars would be the trend but it takes time to fully replace it because EV is more expensive I guess than those normal cars nowadays. Ev needs more improvements in able to use it in everyday living.

I feel the number of electric cars is still very little, so maybe this time they do not really give a great effect on the oil companies. but it will have a big impact, when everyone is aware of how thrifty use of electric cars in the car always uses parts made from oil. but, I'm sure when it will arrive

[btcking101]

It would definitely affect the oil industry when electric cars would be the trend but it takes time to fully replace it because EV is more expensive I guess than those normal cars nowadays. Ev needs more improvements in able to use it in everyday living.

I feel the number of electric cars is still very little, so maybe this time they do not really give a great effect on the oil companies. but it will have a big impact, when everyone is aware of how thrifty use of electric cars in the car always uses parts made from oil. but, I'm sure when it will arrive

Yes and specially in India.I am from india and dont see electric cars only a very few on them are there.So right now there is no effect on oil industry in india and i think every where in the world it would take some time for that to affect oil industry

[MaritiJames3]

Yes it is going to hurt the oil industry in the long run because I am sure that most people in the future are going to go over to electric vehicles.
The oil industry is always going to be there because allot of other things need oil besides vehicles.

[FLoving]

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.

I think there will be no solution in the oil and electricity. if you want to reduce pollution and global warming then you have to leave fossil fuels and switch to electric car

I think it is possible that cars are provided which have both the facilities oil and electricity , just like those cars which have both the facilities gas and oil, so when people need to run with oil due to lack of electricity they will switch to oil and when they have to run on electricity they will switch to electricity, I think people will prefer cars like that most.

[Pattart]

Those in the oil industry must know that they are working with a finite resource, however the price will fluctuate wildly but the long term trend is up. It's just whether all the current systems that run on oil can be converted to other power sources before it runs out. Oil will be fine for a while, it's in a glut right now but that can tighten right up any day.

Electric cars are not directly bad for the oil industry because there will not be a moment where everybody is buying electric cars you know there will
always be people who are using normal benzine cars.

for today is not everyone is going to buy an electric car but the future certainly more people will choose the electric car is economical and environmentally friendly. you should have seen this is in many films in hollywood about future Lol
but I think it would not make oil industry disappear because they have customers not only on the car. so the oil industry will still be alive

[Jimbola3]

Yes it is going to hurt the oil industry in the long run because I am sure that most people in the future are going to go over to electric vehicles.
The oil industry is always going to be there because allot of other things need oil besides vehicles.

Yes I agree with you. It will not have much effect in near future because still many countries prefer oil based cars but in the future it will bring a revolution same as the bitcoin.

[lemipawa]

Yes it is going to hurt the oil industry in the long run because I am sure that most people in the future are going to go over to electric vehicles.
The oil industry is always going to be there because allot of other things need oil besides vehicles.

It will hurt the oil industry that serves car as fuel but remember that fuel for cars is just a by-product of crude oil as a result of refining. There are other products that can be taken from refining crude oil like kerosene and LPG which is used in cooking and definitely we are still far from seeing an electronic Air Plane or an air plane run by electricity.

Equipment's that is used to produced e-cars use oil in maintenance and lubricating and preventing wear and tear of those huge and expensive engines.

[krishna1]

Of course this Is a big trouble for oil companies.....

[Barnabe]

Yes it is going to hurt the oil industry in the long run because I am sure that most people in the future are going to go over to electric vehicles.
The oil industry is always going to be there because allot of other things need oil besides vehicles.

It will hurt the oil industry that serves car as fuel but remember that fuel for cars is just a by-product of crude oil as a result of refining. There are other products that can be taken from refining crude oil like kerosene and LPG which is used in cooking and definitely we are still far from seeing an electronic Air Plane or an air plane run by electricity.

Equipment's that is used to produced e-cars use oil in maintenance and lubricating and preventing wear and tear of those huge and expensive engines.

Nowadays it's easy to make synthetic oils and lubricants, so this will not be a big problem. However many industrial sector still use oil to make by-products (like plastics). It's not impossible to replace them, but the additional cost will be huge.

[poptok1]

Nowadays it's easy to make synthetic oils and lubricants, so this will not be a big problem. However many industrial sector still use oil to make by-products (like plastics). It's not impossible to replace them, but the additional cost will be huge.

That is the true. Huge range of material is still produced from or with by products of gas.  Plastics used to make e-cars interiors, rubber for tires, even the tar itself is closely related with oil industry. Some of the fabrics, like eco leather etc. All those together take 14% of global oil consumption. E-car, just like conventional one, will at some point be a driver for oil industry. Most of those plastics used in a car are one time use, very hard to recycle. More and more will be needed in the future.

[Doamader]

Nowadays it's easy to make synthetic oils and lubricants, so this will not be a big problem. However many industrial sector still use oil to make by-products (like plastics). It's not impossible to replace them, but the additional cost will be huge.

That is the true. Huge range of material is still produced from or with by products of gas.  Plastics used to make e-cars interiors, rubber for tires, even the tar itself is closely related with oil industry. Some of the fabrics, like eco leather etc. All those together take 14% of global oil consumption. E-car, just like conventional one, will at some point be a driver for oil industry. Most of those plastics used in a car are one time use, very hard to recycle. More and more will be needed in the future.

The new cars models will always depend of oil industry that should invest into the green energy and support it, the same way they making thousands of money with oil they will do that with the electric, if they dont invest into that new version they will die soon or later.

[yayayo]

Yes it is going to hurt the oil industry in the long run because I am sure that most people in the future are going to go over to electric vehicles.
The oil industry is always going to be there because allot of other things need oil besides vehicles.

It will hurt the oil industry that serves car as fuel but remember that fuel for cars is just a by-product of crude oil as a result of refining. There are other products that can be taken from refining crude oil like kerosene and LPG which is used in cooking and definitely we are still far from seeing an electronic Air Plane or an air plane run by electricity.

Equipment's that is used to produced e-cars use oil in maintenance and lubricating and preventing wear and tear of those huge and expensive engines.

You even forgot about the huge application field of oil derivatives in the plastics industry, which I think is even more significant than the refining of oil for lubrication and kerosene. However the use of gasoline in the combustion engine of cars is still one of the biggest demand factors for crude oil. Widespread introduction of electric cars will therefore reduce demand for crude oil significantly.

That said, I think this transformation will still need much more time than many people tend to think. Even today only a tiny fraction of worldwide sales of new cars have electric engines. And most cars are used for several years, especially in developing countries. So replacement will go on quite slowly.

In the end, the oil industry will not die. It will transform and competition will surely lead to improvements and innovations in the remaining fields of applications for oil.

ya.ya.yo!

[Lucentar]

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?

Nope, in developing countries, if you will introduce electric cars then still there will be gasoline used to make electricity and no engine is 100% efficient, so very less amount of electricity will be produced by the consumption of more amount of fuels. So it will still not be a problem for gasoling industries.
But in case of developed countries where they use nuclear energy, this scenario will be completely different.

[serjent05]

I think electric cars are not bad for the oil industry.  this may cutbuy pressure from automobile but the demand for electricity will be much more and as we know oil are also used to power up plants.  So the demand will simply go somewhere else where  supply  is needed.  That is my opinion regarding this matter.

[martinacar]

I think that in the long run they are going to be bad for the oil industry because I think that more people are going to go over to electric cars.
At the moment it is not a problem but in the future it will be.