Are electric cars bad for the oil industry?

[shata]

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?

Well, not only cars are using oil. Also power generators and machines also uses oil. I think that it will not effect the rate of it effectively considering all of the machines and things thar are uses by oil and gasolines.

[deniskiely]

Yes of course, because if electric cars are using often the demands for oil will decrease much and it will damage the oil industry.

[Sled]

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?

Well, not only cars are using oil. Also power generators and machines also uses oil. I think that it will not effect the rate of it effectively considering all of the machines and things thar are uses by oil and gasolines.

In the future, the oil industry will have a huge loss and that is because of the technology that is taking over the world. Technologies will have a lot of progress in the future that will result for the current things right now to meet its end because when the electronic cars and when the electronic energy will become popular then oil industry will not become the primary thing to be used and it will just become an option.

[Carlsen]

On a short sight, I think I have read that producing an e-car needs more energy and oil than producing a regular car.
If you look at a longer period of time, then of course an electric car uses less oil than a normal one.
But hey, the oil reserves are not endless, so at some point a change needs to be made to a technology that is capable of using renewable energies.
Oil can be used much better in other parts of the industry, it does not need to be burned.

[Gladz29]

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 no, because not anyone using electric cars. Besides the price of the electricity is so expensive. So the oil industry is not going down. Maybe in future some of the people using electric cars, but it depends how they used it. If they used everyday maybe the price of oil is going down, and some of the oil company is bankrupt because of electric cars. But the price of electricity is getting higher. So for me I choose cars using oil.

[dammang]

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?

yes because the value of gasoline will go down

[Seaze007]

Of course they are, oil is going nowhere in the long run.

Maybe can affect in the oil industry if we used electric cars. Because the price of electricity now a days is very expensive. If electric cars will exist in the future, some oil company will bankrupt. But the price of electricity is getting higher and higher.

[tats14]

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?

Yes oil industry go down , because electric cars dont need gasoline thus, it needs  electric current.

[DrGuns4Hands]

It is bad but not for now, there are many people who can't buy an electric cars that's why it won't affect the oil industry at this moment. But sooner or later oil industry will go down and let's welcome the electric cars. The demands for oil industry will decrease and the oil industry will be damaged or broke, oil industry is in trouble in the future.

[kier010]

yes it would be bad for oil industry but we can't see that now and it would take time for it to happen. there are countries without nuclear plants and they use oil to generate electricity which is the primary source of energy.

[explosion]

Yes they are. That is why in many countries governments simply prohibit or make limitations for people aho are into electric cars

[19dimasik77]

In the long term - quite. As gasoline cars squeezed carts in their time.

[yasuoWasakey99]

Yes electrical cars are very bad for the oil industry because i believe they are not how they are supposed to work and oil is very hard to get but if no one wants oil then they will think about other things to do with the oil.

[lelahkenabanned]

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?

perhaps oil entrepreneurs are only afraid that if their oil is useless or worthless because of the development in the presence of electric cars make the world oil owners feel scared, fuel oil will be useless when all replace it with electric power or nuclear power.

[Dudeperfect]

Yes, technically this innovation might ruin the oil industry but if we look at it through a different approach then the oil industry cannot survive for the long period even if there is no interference from the electric cars because the supply is going to fall day by day resulting the surge in the price and then middle-class consumer (major customer of the oil industry) will start looking for the cheaper alternative.

No doubt the major players are transforming themselves in order to survive with the changes going around.

* Saudi Arabia’s crown prince is getting reckless.

* Saudi Arabia redrafts crown prince’s transformation plan.

* Music, Movies, Women Drivers: 11 Ways How Crown Prince Salman Is Transforming Saudi Arabia.

Why someone who is already rich would like to transform himself according to the situation? The reason is simple, to survive during and after the change.

[syaripudin]

Electric cars are created to reduce global warming emissions as well as to create an environmentally friendly vehicle. so in my opinion, though there may be an assumption that says this will affect the weakening of oil prices. but I do not think this will affect oil price fluctuations for the foreseeable future because if we look from the stage of the electric car industry it is still very far if we compare with the car industry with fuel from natural oil ideas in the manufacture although the electric car industry has been running but this is just starting on so the need for oil is still very much, not to mention the other industrial sectors that still need oil as a means of supporting an industry. so again I say this will not affect the effects that are not good on oil.

[pdavidp]

Of course they are. Nikola Tesla's electric car patent was not approved by Oil industry owner at that time because it would crush entire industry down.

[dulce dd121990]

Yes of course! It will obviously affects the oil industry if this electric cars will scatter around the would. But if the oil price will drop down, it can still stand in the future.

[burong1]

Of course they are, oil is going nowhere in the long run.

In our oil industry it is bad, but in terms of academic development it can help us in order to become more productive. If we take this as disadvantage it is negative, but we need to look at the positive side of the electric car, it can eliminate pollution and also it is already part of our modernization.

[zhea]

Yes electric cars really affect the oil industry. Hoping that they low down their oil price for them to survive.