Are electric cars bad for the oil industry?

[kaya11]

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?

A little trouble maybe, even though electric cars are powered by batteries,but it's will charge and use certain socket that came from gas generated energy like power plants, and other generators that uses gas unless electric cars have solar panels. They also need the oil for their engine for it to run smoothly. Most of the machines needs oils so it won't really leave the oil industry in trouble.

[CryptoDens]

For mobility has begun to be widely used, will still use lubricating oil to lubricate all gears used in electric vehicles. Only the likelihood will decrease considerably. But lubricating oil can be used in other fields, for example in airplanes, industrial machines, and others.

[Mahanton]

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?

A little trouble maybe, even though electric cars are powered by batteries,but it's will charge and use certain socket that came from gas generated energy like power plants, and other generators that uses gas unless electric cars have solar panels. They also need the oil for their engine for it to run smoothly. Most of the machines needs oils so it won't really leave the oil industry in trouble.

You do have a point on where Oil industry do have still the part of the economy which it do have an important role in our daily living.I cant imagine on life on the absence of oil industry for sure lots would really be disabled because it do really have a major impact into our economy. I would say if electric cars would really be imposed then I can say it can really give a major impact but not coming to a point that it would be diminished.

[dificanovi]

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 am very supportive with the electric car, because it will be environmentally friendly. air pollution will decrease as well, this will make the environment clean of pollution. other than that electric cars will drool bad for oil, chances are the price will go down because people have gone to electric cars.

[Gladz29]

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

I think electric vehicle is not bad for oil industry. Electric vehicle can help also in nature, why? Because no more smoke belching can affect in ozone layer. But electric vehicle is so expensive unlike other vehicle that uses oil. So I think in near future anybody can used electric vehicle.

[mozartopfer]

Yes because they take customers of oil companies. However, even living is bad for oil oligarchs because it's a thing that cannot last forever:)

[Best Dreams]

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.

No it’s not true it’s a very good idea that car are going to keep environment clean and its use is very good for health and I will prefer electric car instead of diesel car because these car make pollution in environment and it’s also very expansive to drive and electric car are cheap for driving that’s also a benefit of electric car and oil use is too much in everywhere that oil can be used for some other things so I think every country must make all their car electrical.

[doomloop]

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

Indeed, these electric cars are very much environment friendly, you need to understand that these cars are the future of the world because sooner or later we are going to face some energy crisis that too severe one and petroleum is no exception. Electric cars are not going to discharge any wastage which is harmful for the environment and they are not going to cost us more than petrol. In short, electric car industry will flourish soon.

[pluMmet]

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

I agree, because like any electric cars more friendly environment, electric cars does not make the air pollution, noise pollution and wouldn’t eat fuel oil that is increasingly reduced the number of petroleum, it is the electric cars to when it’s still a lot of constraint as there is no place charging batteries if electricity exhausted, because it’s an electric car can not be used to distance away, and it will be difficult to fill if in the middle of the journey batteries the car up

[taktik]

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

I agree, because like any electric cars more friendly environment, electric cars does not make the air pollution, noise pollution and wouldn’t eat fuel oil that is increasingly reduced the number of petroleum, it is the electric cars to when it’s still a lot of constraint as there is no place charging batteries if electricity exhausted, because it’s an electric car can not be used to distance away, and it will be difficult to fill if in the middle of the journey batteries the car up

It seems to me that today it would be better to let some money not to fight the steam effect, But to make human life and activity less harmful to the environment. Thus, it would be possible to make better batteries for electric vehicles, and stop using oil, the remains that are harmful to nature.

[coinfinger]

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.

I think electric cars are not a threat to oil industries but it is beneficial for them in a way because the amount of oil is limited and is reducing day by day due to its excessive use. Oil is also used worldwide for making electricity and many other important procedures. If all cars of the world stop using oil, even in that situation, the oil industries wouldn't be harmed due to the usage of oil worldwide in many other procedures.

[Pixyoxx]

Electric cares have very very low occupence in the world. It is a industry yet to flourish and grow. Oil vehicles arent going anywhere this soon. Completely switching over to electric vehicles will take a decade or more. Less developed countries for now cant even think of moving into electric vehicles section.

Also with time oil companies will also shift towards may be battery manufacturing, or may be providing electric vehicle charge stations just like a gas station. They will also vest in to attract electric vehicle owning customers by doing changes in their overall business.

Oil, on its own is anyways a limited resource, which electricity can just be created anytime. Oil is day by day ending only. So incoming of electric vehicles cannot be the sole reason for any harm to oil companies. Atleast not this soon.

[carlos64]

I dont think so because oil has many use it is used all over the world and it would be imposible to fall

[sumangs]

Electricity as a source of fuel for cars is a good idea since there are only limited supply of oil and it takes millions of years to produce another of it. It is better to conserve oils for future purposes and let electric-powered cars replace them. Also oil-powered cars could contribute to a global issue that is global warming and those cars needs to be reduce. We need to adapt to our environment and we really need to make new ideas to prevent our world from being a wasteland. Let us accept the fact that oil will be irrelevant in the future and yes, electric cars could destroy oil industry which better for our planet.

[indog]

in my opinion not, because it can reduce the use of oil, I mean the supply of oil in the world gradually thinning, so the idea of using electric cars is necessary to save oil that will not always exist in this world, that's my opinion alone.

[bituperio]

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?

Could be. The thing is that an electric car need to get the electricity from somewhere, so still gas and fuel will (unfortunately) be burned for energy. IMO the biggest waste ever.

However, there are other factors: many of the countries that are growing, e.g. China and other in the area, find in Oil a quick and relatively cheap source of energy, so even if electric cars get adopted in USA and Europe, I think we are still far away from a drop in demand.

Lastly, the aviation industry is growing a lot, and planes consume fuel.

[Sexie]

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 so, once electric cars will use by all consumers there is a chance that gasoline’s popularity will going down. Less people now will be using gasoline once  the demand is low ,the lower the price also.There are some options also that the popularity of gasoline will going down  when solar power will become famous in using electricity rather than gasoline. I think the cost of gasoline will be in bargaining because it will no longer in demand.

[thoerz18]

Many other car manufacturers are also working to build electric cars to reduce dependence on gasoline and diesel. As consumer demand shifts to more energy-friendly products, demand for exhaust gas or exhaust pipes is also reduced. This forward industry will remain bleak, even with Saudi Arabia's plans, the world's top oil producer, to reduce its oil dependence and switch to renewable energy

[BitcoinNational]

We also know that car with water is working. The patents are bought by the oil industry so they can keep selling gasoline.
For the electric car, I guess they will gain in popularity. However, electricity is not the perfect solution neither, we have for the moment a small proportion of electricity provided by "green" sources ( solar, sea and ocean etc).
The nuclear power plant provide the majority of the electricy today and it's not without problems

[darewaller]

in my opinion not, because it can reduce the use of oil, I mean the supply of oil in the world gradually thinning, so the idea of using electric cars is necessary to save oil that will not always exist in this world, that's my opinion alone.

Not really, I don’t think having electric cars can bring bad business for oil industries. Based on my own research, I don’t think there are lots of people making use of electricity cars as of now, most are powered by oil.

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?

Could be. The thing is that an electric car need to get the electricity from somewhere, so still gas and fuel will (unfortunately) be burned for energy. IMO the biggest waste ever.

However, there are other factors: many of the countries that are growing, e.g. China and other in the area, find in Oil a quick and relatively cheap source of energy, so even if electric cars get adopted in USA and Europe, I think we are still far away from a drop in demand.

Lastly, the aviation industry is growing a lot, and planes consume fuel.

I think you just hit the point. That’s true, aviation industry is really growing and that’s leading increase to the rate of demand in oil. Aeroplanes can’t be powered by electricity, if there is any plan that can be powered by electricity, then I have never heard of it. Not only planes and vehicles can be powered by oils, there are also other products that can only used with oil.