Are electric cars bad for the oil industry?

[Seaze007]

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, electric cars can help also the environment. But it depends to people what kind of vehicle they use.

[Galahad111]

Oil is widely used in industry, so its popularity will not be greatly reduced. The price will also not fall to zero, because oil reserves are limited. Electric cars are popular, but before the disappearance of gasoline cars are still very far away.

The problem is not with the generation of electric power, but with its storage. As of now, the world electricity production stands at 25 trillion KWh. A small fraction of it will be enough to run all the automobiles in the world

[v0rtecxz]

I think yes, it will affect the oil industry in the next few years, because of the limited and non-renewable oil feedstock, it will worsen its future, moreover the air pollution caused by very real fuel vehicles visible, and with the presence of new innovations in the form of electric cars whose energy or fuel can be updated and also environmentally friendly, does not cause air pollution like oil fuel, and I think this technology will continue to grow in the future and become more popular for reduce air pollution

[Hopeful2017]

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?

If all countries in the world will use electric cars, then oil industry will be badly affected. Its like a law of demand and price. If electric cars will be accepted and used worldwide, the demand for gasoline is low then price will also low.  However, there are some disadvantages of electric cars, like it cannot travel a very long distance, or it can only travel in limited distance. While cars run by gasoline, can travel long distance.

[Bhalli]

Electric vehicles might affect the oil industry, in the long run, maybe 10-15 years from now. As of now, there are multiple reasons that are preventing EVs from replacing cars running on fossil fuel. I believe the biggest problem is the price point. EVs are costlier than normal cars. To make a significant impact on the oil prices EVs should be adopted by masses, which in turn will only happen once the prices go down. However, EVs are still in nascent stage and hence, like every new technology is still costly. We can safely assume that the prices will go down in future making EVs not only affordable but also a cost-effective and a green medium of commuting.

[albert11]

Of course electric cars will affect the oil industry because this cars will no longer used oils to operate so the consumption of oils will be lessen and that will affect oil industry

Yes definitely agree in this.  The oil company will be greatly affected by the invention of electric cars.  It can abolished oil companies as people will no longer be needing gasoline or diesel to make their car runs.  And at the same time, using electric cars can help our environment because there woupd be no pollution.

[nagatraju]

Of course, this is bad for oil companies so the transition to electric vehicles is so tight in time...but if we turn on the brains a little, we will understand that if we want to preserve our place for life - our planet - then we have no other choice...and we need to stop as soon as possible use gasoline and gas

[apolonio]

It is bad for both oil companies as well as for people who consume electricity.Why? It is bad for oil companies because their products will not be needed by cars anymore less consumption.Now,for electricity the higher the demand the higher the price so consumers will suffer for electric bills that are high.

[amla]

Yes because demand for the oil will become less as compare when all the cars need oil so price of the oil will be go downwards but conversion of all these cars to electric cars is not possible as it will takes hundred of years to change all these cars into electric cars.but in the eye of pollution these electric cars are very friendly to environment.

[automail]

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 electronic cars won't hurt the gasoline industry. There are a lot of uses for gasoline and people will always use it. There will always be an enormous amount of usage for gasoline and it keeps on growing every year. A small percentage of electronic cars won't hurt them and the increase of gasoline usage will break it even. So no loss on the gasoline industry in my opinion. Oil industry will always have its way to increase their sales and I don't think its popularity will go down. Even if diesel was there, gasoline still manage to work it out.

[Tamilson]

Yes because demand for the oil will become less as compare when all the cars need oil so price of the oil will be go downwards but conversion of all these cars to electric cars is not possible as it will takes hundred of years to change all these cars into electric cars.but in the eye of pollution these electric cars are very friendly to environment.

But how about the increasing price day by day that burdens the consumer?  Using electric cars can be alternative and can be lessen the consumption of gas. It's quite expensive but using in a long run will still be beneficial to us and as well as in the environment.
Besides, there's still many uses of oil in our daily lives so it won't totally affect the oil industry.

[FoxTheHuman]

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?

Is it just our everyday medium that uses oil? This does not hurt the oil industry so do not worry too much.

[KuromaYoichi]

Of course it will be bad for oil industry because the demand will go down but oil has limited supply and it caused more pollution than electricity based car. Maybe in 10 more years everyone will use electric cars because at that point people are aware how bad the pollution is and start doing things that can reduce it. There's still a lot of other industries that use oil so the demand is still there although not as much as it used to be.

[amih]

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?

There are many other types of industries that use oil as the ingredients, so even though the electric car industry is now growing rapidly I'm sure there will be no negative impact on oil.

[Apes]

electric cars are the future of cars and i would says yes these things bad for the oil industry because if electric cars has already mass produced
i think people will more likely use these cars and will leave gasoline-fueled cars

actually with the electric car is a good idea because it will reduce the pollution in the earth, but will be the impact of fuel oil that is gasoline because the supplier will certainly decrease and will be the impact of work that pertamina kariyawan because with berkembangannya electric car will affect the lack of people to using an oil-fueled car and I'm sure there will be a reduction in employees who work in pertamina and will definitely be a lot of unemployed ..
I hope to think again the impact and consequently if it happens whether there will be a loss, in my opinion must be limited suppliers of electric cars and still there is an oil-fueled car so there is no yanf the disadvantage.

[gabmen]

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?

There are many other types of industries that use oil as the ingredients, so even though the electric car industry is now growing rapidly I'm sure there will be no negative impact on oil.

Right. Though of course it is a big bump on the road for this industry if ecars go mainstream but they'll endure. And it may be a loss for the oil industry but it will be a big gain for the environment so i'd rather have that

[Yurkov]

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?

There are many other types of industries that use oil as the ingredients, so even though the electric car industry is now growing rapidly I'm sure there will be no negative impact on oil.

Right. Though of course it is a big bump on the road for this industry if ecars go mainstream but they'll endure. And it may be a loss for the oil industry but it will be a big gain for the environment so i'd rather have that

The avalanche of electric vehicles will straighten the oil industry to the brink of survival.The processing industry will suffer the soonest and most severely lost

[randal9]

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?

There are many other types of industries that use oil as the ingredients, so even though the electric car industry is now growing rapidly I'm sure there will be no negative impact on oil.

Right. Though of course it is a big bump on the road for this industry if ecars go mainstream but they'll endure. And it may be a loss for the oil industry but it will be a big gain for the environment so i'd rather have that

I agree...surely the oil industry will suffer losses, but first of all we must think about the environment...and the electric cars will greatly help to reduce the damage to the Earth

[Allura74]

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?

There are many other types of industries that use oil as the ingredients, so even though the electric car industry is now growing rapidly I'm sure there will be no negative impact on oil.

Right. Though of course it is a big bump on the road for this industry if ecars go mainstream but they'll endure. And it may be a loss for the oil industry but it will be a big gain for the environment so i'd rather have that

I agree...surely the oil industry will suffer losses, but first of all we must think about the environment...and the electric cars will greatly help to reduce the damage to the Earth

Yes, it has a great impact on all oil industry since transportation is mostly rely on oil. If electric cars has been fully implemented i think almost 60 percent will be lost of oil industry. But i think the reason why electric cars is not fully bloom is because it is very costly system if you want to have as power as oil engine.

[nightmanisrightman]

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?

They are gaining in popularity yes but that is the key here and only if they continue to gain more popularity will the oil industry be in trouble. They have lots of power still and can lobby effectively because lets face it they shouldn't have been here this long to begin with. Perhaps they will be in more hot water 10 years down the road when more cars on the road are electric but I am pretty sure that number is quite small and I would bet a small fortune it is under 10% of cars at the moment.