Are electric cars bad for the oil industry?

[JoMarrah Iarim Dan]

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 are made on purpose. Electric cars are also made for the benefit of many people and most importantly our environment. Because of the smoke produced by the cars that used gasoline, our air is now polluted that if inhaled by anyone, he / she will get sick. Our ozone layer condition is not good in short "damage" because of the polluted air. Minimizing the pollution can surely help minimize additional cause of damage in the ozone layer. Electric cars are to reduce the greenhouse gas emissions even further.

Yes the use of the gasoline will be lessen since gasoline is primarily consumed as a fuel for transportation. But there are some other use of gasoline like lawn mowers, chainsaws, compressors, electricity generators. Regarding the  price, it is good for my country if the price of gasoline goes down because we are suffering from its very high price.

Not all people afford to buy electric cars so petrol/diesel car will not be phase out as well as the demand for gasoline so oil industry will not be in trouble.

[kkukkugaga]

Looking in business or marketing way, yes because if a person uses electric car instead of cars using oil, then oil industries will decrease its income. Number of people will tend to use electric sources than oil and so, the demand for oil will decrease. Thus, it is a little help in the environment too. Most vehicles that uses oil, emits smoke that causes pollution. However, electric cars do not but requires more electric source which is a bit costly but convenient and better for all.

[nwahshearthiad]

Popularity of electric cars will surely affect the oil industry. Maybe not for now because not all people prefer and can afford to buy electric cars but gradually the oil industry will be down.

[dx_twisted]

It will be, in the long run, but not today. Electric cars just started to make scene in the automotive industry but the majority of cars today will remain powered by gasoline and diesel. At least for the next decade or so, this will happen. But, I still have doubts if they can totally phase out those vehicles powered by gasoline due to the fact that the market of this electric vehicles target Class A to S citizens which fits Germany, Italy, USA, Japan and Korea classification. The only effect which I think might happen, is having a big reduce of gasoline and oil consumption once electric vehicles fully overtake the automotive industry scene.

[youarehere]

i think so if most people choose electric car then no need oil and that would be very bad for industry

[chelle5]

On my point of view yes.Manufacture of electronic vehicles may act as a competitor to those who invest on oil companies.A great rival to those electric machines that are out.Less fuel,less oil,less smoke.Good for the environment but bad for oil industries for less consumption.

[Sled]

On my point of view yes.Manufacture of electronic vehicles may act as a competitor to those who invest on oil companies.A great rival to those electric machines that are out.Less fuel,less oil,less smoke.Good for the environment but bad for oil industries for less consumption.

Oil industry is very near to its end because the electric cars will be the reason for their industry to fall because when the electric cars will have a massive adoption then it will result for the oil industry to lose a lot of interest for the other businesses because the technology will win over the old system where the machines is just using oil as a source of power but right now, there is a lot of source of energy that will result to the oil industry to have a complete loss.

[Kiweikoo]

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[alphaomega.f]

not that bad but it will affect, somehow, the oil industry because it will cause a decrease in their sales since people are starting to choose electric cars over oil-powered cars.

but truth be told, we all know that oil industries wont supply oil forever because time will come that the natural stock of oil will be totally consumed and that will be over for them unless they find a substitute source of oil, if there exist a thing like that.

[Fantastic33]

Even electric cars are gaining popularity especially now that more and more electric cars are produced, i dont think that gasoline will go down. Electric cars CAN BE a future threat in the oil industry if all vehicles in the future will become electric, but i think it will only affect the gasoline or oil industry a little. Since most electric cars are plug-in which is still powered by electric power and oil, there is no way gasoline/oil will go down. Other than that, oil is also used on other things. Maybe companies are only producing electric cars so people can save a little because of  continous oil price hike, or they are just being futuristic that maybe one day oil deposits will be less, so they are just producing some alternative vehicles which will be used if problems on oil deposits arise

[xanxus.kun]

yes it is, its a bad news for them, just imagine the countries that be affected when the this electric cars becomes a new trend, surely these leading oil industry will try to stop it and continually persuade at all cost, they won't let it happen.

[malikusama]

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?

Oil industries and Gasoline exporters have put a great effort in war against the electric car manufacturers and distributors and they somehow succeeded. But now the electric cars are too much needed and essential to save our environment from more pollution and also to save our natural resources. If our transport system will shift entirely on electric vehicles then surely it will cause a big trouble for the oil industry and distributors.

[SashaAbraham]

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?

Oil itself isn't endless too. Popularity of electric cars is not so high now to make oil price go down significantly. What really affect on the price is ability of US private companies to get oil. They become good competitor to Saudi, Russia and other sellers. So I bet the price for oil is between 40 and 60 $.

[Andrianla]

Perhaps oil mill revenues are down if all countries apply electric cars for transportation. However, electric cars still have constraints such as fast recharge and where refilling is not yet available. This is a technological advancement so that nothing will hamper it, just like Bitcoin even though some governments forbid it will keep going and growing.

[c++btc]

not at all because there are still many electric cars that are so usable today i mean it is too easy to drive but it doesn't mean that oil price or oil industry will be affected there are too many cars until now.

[Marma Kalari]

i think so if most people choose electric car then no need oil and that would be very bad for industry

It is good to see the future with more electric cars but the transition takes a lot of time to happen,glad to see that the initial phase is starting now and we will see those changes in twenty to twenty years so that we will have a partial oil free industry around the globe .If you are looking for a safe nature and pollution free world we have to get rid of oil.

[katiecbell]

not that bad but it will affect, somehow, the oil industry because it will cause a decrease in their sales since people are starting to choose electric cars over oil-powered cars.

but truth be told, we all know that oil industries wont supply oil forever because time will come that the natural stock of oil will be totally consumed and that will be over for them unless they find a substitute source of oil, if there exist a thing like that.

This is not a cryptocurrency related question, but I’ll still answer. There is no electric cars will affect the oil industries, causing a reduction to their sales (or whatever) it’s not everything you need that you will find in one car. Even if a car is an electric car, it might lack a feature that is available in a oil-powered car. And also is not everyone that has electricity, there are places where people sees electricity light once in a while, so do you think such people would have interest in electic cars? No they won’t.

[btcone111]

Yes definitely. Biggest use of oil today is producing petrol and diesel both of which are extensively used for cars.
If electric car is efficienct and cheap enough, oil will pretty much become redundant compared to today's importance.

[rodalutor]

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?

In time of course electric cars can harm the oil industry. I think it's something about 50% of the worlds oil is used for gas and so it's easy to see how electric cars could make a big difference in that case. I think within the next 20 or so years everyone will transition to electric cars and it will be a big transition for the world environment, there are still many things that need to be changed though to stop the over use of oil. Also let's not forget that mostly a few countries collude to set the oil price anyway and so they can simply decide to maintain the price if they really feel like it.

[CrysisCrypto]

I think electric cars will aggravate the oil industry but will make the environment better. as we know that petroleum is getting thinner and inevitably we have to switch to other alternative energy like an electric car