Are electric cars bad for the oil industry?

[jmlona]

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 of course, it is quite easy to see, electric cars use less oil, therefore demand for oil decreases and so the price of oil will decrease and the oil industry will become less profitable.

[patapon49]

the electric is the future, being a car enthusiast, the big V8 engine will miss me!

[Granxis]

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

Yeah its bad for oil industry becuase they bankrapt if electric car appear, they need to protest if they want an stable and good income. But the reason why electric car created, to protect our nature so they want to create an electric car to reduce an oil transaction.

Electric cars are indeed much better for the environment rather than the ones that uses oil and produces smoke which creates air pollution. It will greatly affect oil industry but it will benefit the nature and also the people because they can breathe clean air in highways. Currently the price of oil in our country went up and it is really costly than electric cars.

Oil is a very widely used product, the use of gasoline and diesel, which are the lowest quality products, is very small for oil. For this reason, electric cars will not affect oil companies too much. If it was possible to affect it would not be produced

[mutrang23]

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 it does not affect the oil industry because it should be the means of transportation to use electricity because of its good image to the environment.

[icanscript]

The energy efficiency of cars, the cost of fuel and maintenance, all these parameters affect the purchase of electric vehicles. Reducing them will lead to explosive growth of the market.

[Fappanu]

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, oil companies would have less demand if people would start using electric cars. People would be able to save a lot of money and they will not need to purchase gasoline and oil for their car. Some oil companies would be bankrupt and maybe forced to close their companies if this happens.

[Potatohead]

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 it is, oil companies would lose a lot of potential income if electric cars would be widely used by people. People would also find cheaper ways to save all their money and electric cars is the solution. Maybe a lot of oil companies would close down.

[dmamigo]

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, oil companies would have less demand if people would start using electric cars. People would be able to save a lot of money and they will not need to purchase gasoline and oil for their car. Some oil companies would be bankrupt and maybe forced to close their companies if this happens.

Oil demand will reduce for sure, but not completely. The general public customers will be greatly affected, but industries will still be there customers. Larger vehicles and electric generators will be there and they will require oil. Till the time comes, probably the small oil companies who will endangered for bankruptcy will I guess shift towards new business.

[dejan_p]

poor oil companies 
losing their profits 
haha, not

remember that we are draining oil from the ground like never before - there will be a shortage of oil in the next 20-30 years..so, long term, they're not bad at all

nat geo has a nice documentary i think it's called ran out of oil, it gives a nice perspective of what could happen soon
(don't worry we will be fine, with a couple of chaotic years..)

[sirenmoon]

Electric cars are our future and they will for sure replace gasoline in the future. Standard cars that are driving with the gasoline fuel will become vintage in the future. Electric cars are ecologically better because of the environment preservation. People are still not acquainted with the electric cars cause they have limitations and there are not many spots to fuel the car with electricity. Electric cars will destroy the oil industry which is already in problems cause oil is being pumped even more than before and soon the world will come to the state of the oil shortage.

[Mainman08]

For now electric vehicle cannot affect much in oil industry. Because only few are using it at present. Here in our place, they start using electric vehicles. And many people will use it in the future. And if this happen it will affect the oil industry.

[Sadlife]

If the eletric cars are getting popular then why does the price of oil still high? why does gasoline stops still increasing they're price in gasoline and diesel. I hope more engineers and scientist start to make a more upgraded version of e-cars so that the need of gasoline will be obsolete. And this corporate overlords whose money grabbing they're consumers will cease to make profit.

[Andrej Peiboski]

Probably we'll see a war against electric car, as the "seven sisters" won't acceptany loss of power and profit.
But at the end, they'll find a way - may be with the help of government - to have a profit with electric car or not.

[darewaller]

Well, are electric cars competing against the oil industry?

Then yes it's bad for the oil industry. If I open a supermarket next to another supermarket, then it's bad for that other supermarket.

I know a person in Kentucky with a similar story, it hurts it.

I think they are bad, but there ain’t many electric cars around, and not everyone are into electric cars, that’s number one point. Next, if actually there happens to be less of oil powered cars and more of electric cars, oil industries can still profit from other areas, cause there are many things that requires oil. By the way, electric cars needs lubrication oil to keep things going.

[superjeyy]

I don't think so. Even if electric cars are using electricity to run for it to be appealing to its users, the cost of buying one is more expensive compared to a regular car. In addition to that, the maintenance of it is really expensive as the they are not mass produced and their parts would take more time to create or find. The main point here is really about its cost and since electric cars doesn't have an appealing price for its buyers, then they would rather choose an oil-powered car instead.

[Polipog]

If majority of people uses electric car machine therefore it will totally affect oil industry. But as ot this moment still people are using oil car machine. But soon if electric car will highly using it is the time that oil industry will decrease in terms of demand and also the price will go down because of lesser demand of consumers using oil car machine.

[swordling143]

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 they are bad for the oil industries, and at the same time could be taken as an advantage for positive outcome. With the decrease of demand in oils, it's value will definitely drop down and will be an advantage for those who cannot afford electric cars yet. At the same time, it will be very good for the environment to not use oil anymore.

[CHENIEN]

If majority of people will used electric cars therefore oil industries will be affected in terms of demand, and it will affect also the oil price that going into lower level. But as of this moment majority of all running vehicle are under oil car machine.

[JumboStrike]

Electric cars doesn't affect oil industry that much yet. It is bad for oil companies but it's not like demand goes to 0. At least as long as they are not produced massively and used by majority of population.
And really what can oil industry do? Oil will run out sooner or later and when that happens we must be ready to embrace that change. There is so much potential in electricity as renewing source of energy and also it doesn't affect mother nature. Greenhouse effect and all.
Personaly I wish we start using electric cars massively.

[nesh1]

Yes electrical cars are indeed bad for the oil industry because people will buy them and less oil then no one will buy oil anymore and the price of oil will go down but we can also make other uses for oil.