Are electric cars bad for the oil industry?

[brotherwood12]

Yes it will , and  will gradually time by time  the oil using will be abandoned and all people will use that electric car
because electric car designed for future

[Karie_Legend]

It seems like it is very profitable for everyone and many different benefits.

[X2PR8888]

I feel that this like a question of whether cryptocurrencies are bad for cash or fiat and I agree with most of what has already been answered, at the mowment there is the rise of cryptocurrencies like bitcoins and ethereum, litecoins, and others, so much so that there is a devate whether  it will replace cash.  I don't think elecric cars are going to completely kill the oil industry but for certain, it is going to hit it in such a way that some may go out of business especially if electric cars: its use and regulation has been polished (charging stations all set, roads sre electric car friendly, government banning fuel run cars and so on and so forth).  Also, the fact that oil is a finite source of energy makes people really want to convert as electric cars are also more eco friendly (with the shift to renewable energy).  With these two reason in mind, there is a possibility that electric cars may really be a big threat to oil industries but still I believe that oil industries, as limited as they may be, will still be important to planet Earth.

[bakekang008]

EV is like mac ... less than 2% in the world. 

Most big car companies have started producing electric powered models and renewable energy is on the rise. It doesn't look good for oil either way.

For me its not because their are some can't afford electric vehicle. And not all people in this world dont have cars.  So i think the oil industry is always in the business. 

[micoholic]

As far as I can see, even though the number of electric cars continues to rise up. There are countries that still sticking to petroleum powered vehicles due to their current economic status. Maybe, in the long run, we might see the effect of it once it outnumbered the latter. However, once the oil industry goes down, we need to watch out for electric prices as they surge up due to increasing demand.

[DRAWDE_3691]

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 only  have minor effect the industry. I have also read something about a person who invented water as a exchange for gasoline, but, where is he now? He's being silenced by those oil capitalists. Anyways, it would take a long time for the electric cars to be used widely and became very popular.

[suzaku00]

yes it is really bad for oil industry but i'm favor with this. for me it will less the pollution that has given by transport vehicles. for me electric cars are eco friendly.

[bituperio]

In my opinion, electric cars is not totally bad in the oil industry because I didn’t think so that electric cars use around world. And In fact that there’s a lot of uses of oil not only cars.

You need to produce electricity and oil is the easy resource for it. We need to push forward the electric car anyway for health considerations.

[balakang00]

I think the emerging of electric cars wouldn't even affect the industry. It is not even a threat to the oil industry because if you compare the percentage of vehicles run by oil and by electricity, it would be 99.9999 to 0.0001 percent. Only because it is hard to make it widespread because the normal cars are the default on today's society. The design, color and brand of car they want holds the oil automated version so it should not be worried about.

[Khristian]

i think if all cars are replaced by electric cars are really affected by the oil companies because they have no use in their product they lose when they earn a lot of investors think that they will still be in the industry with the oil if the car will be famous. and great help in the environment electric cars have no chemicals that smoke is released to damage the environment.

[beej]

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 the future but are currently expensive. I believe they are a threat to the oil
industry but at the same time electric cars are attractive products to car companies. Because
of the ever growing awareness and concern for global warming and the environment, creative
and innovative solutions are constantly invented. Electric cars have less carbon dioxide
emissions and are fuel efficient. They are a wonderful option if you can afford one.

[thetractor666]

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'r are bad for them since day one... now they'r out but people rather to use oil based cars instead of taking care of our own world whealty.

[SamPo]

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 good for health and nature, I think now it's not yet bad for oil companies because Electric cars is maybe only 10% compared to oil operated engines/vehicles. I think it's not really  bad for the oil industry because more of the electricity suppliers also uses oils. It's a sort of it will not be consumed for vehicles but will be consumed by the electric companies, their earnings will maybe lessen but it'll not vanish.

[biletskiy]

I am quite sure we will run out of oil faster than the decrease in the demand.

PEople have talked about electrical cars for many years, but the fact is still that only a small percentage of cars are electrical. The oil supplies are not limitless, and we use oil for a lot of other things.

Of course it's bad for them. But I'm not worried about them. I believe that electric cars are a step into the future!!!

[jaysabi]

It'll never hurt the oil industry since even if electric cars are adopted in lots of countries , it won't reach or even be an opponent of match to oil consuming cars to actually hurt the industry . Actually electric cars cost more in price and in consumption so people will always prefer oil cars unless they care about nature and bio environment and all of that . But what i know now that lots of cars are hybrids , it means they  got an electric engine and an oil one , the car will start with the electric one which will reduce consumption (which is at peak when starting a car and going with 1st gear ) and gets charged whenever using brakes . So oil industry won't really get hurt in the next 100 years at least .

Arguing that electric cars aren't the future because they cost more in price and consumption is like someone in 1900 arguing that cars aren't the future of personal transportation because they're more expensive than horses and require oil to run on, where horses are cheaper and only require less expensive food. It's an argument based on a limited viewpoint that isn't going to end up proving true. Electric cars are the future, the infrastructure to power them is being built the same way as gasoline powered infrastructure needed to be built first to allow cars to replace horses.

[timerland]

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, it matters.

Don't quite know how this ties in with bitcoin, but still. Normal cars have a fuel burning efficiency of 20% and electric cars use electricity which can be created from the same fossil fuels at the efficiency of 60%, meaning that electric cars still use fuel (in essence), but consume 3x less overall.

This, of course, is bad news for the oil companies but they still able to sell some portion of their oil.

IMO the most important thing to do right now is to anticipate the run-out of oil and plan ahead.

[vergel24official]

There's a threat in oil companies as electric cars growth. But it is more better to lessen the pollution. Like in our country electric bike is getting more popular to use as a transportation, it is nice because it has no smoke exhausted.

[s0beit]

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?

Of course it is, just imagine if people would start using electric cars. People will not need oil anymore. Oil industry would be dead, and  a lot of businesses especially those oil companies would go bankrupt.

[galestorm]

Electric cars may be gaining in popularity but the widespread of its production and demand is too little compared to cars that use oil. As of now electric cars isnt that much of a threat to oil industries because of the fact that the majority of the world's population is still leaning on cars that use oil but i guess things will change in the year 2500 where pollution is a threat to humankind.

[Quesdana]

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?

Of course. It is a threat to them of ever the car manufacturer will also creates electric cars because their gasoline,  diesel or any other car fuels will become useless and people will no longer buy the fuel-engined cars because they can save MO eyes if they will use electric vehicles and they could also save the environment from the harmful effects of it. But since now, only electric motor bikes are available so I think it is not yet a real threat to oil industry owners.