Are electric cars bad for the oil industry?

[Tavarez]

electric cars are reality and near future. Oil industry deserves to crash, with implementation of electric stations the price of oil will go down. I said they deserve to collapse because oil industry helped in polluting our Planet and living environment. reason for many ecological disasters.

[Nana99]

Definitely electric cars has bad effect for the oil companies. Instead of using oil as fuel to our cars it will changed to electricity.

[Shanmatthew]

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 yes,its bad for the oil industry if all in country use this kind of electricity car that no need oil.but  its a little bit.rather than that.oil industry is need some of company that always use oil in their operation on their plan.

[ohkkstaaahp]

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?

Indeed, electric cars are damaging to the oil industry because electric vehicles are so commonplace that it can be used in the future in the future. This causes the cars to run on unshipped oil and excess oil, which is bad for the oil industry

[stingers]

For now, i believe market is big enough to sustain both the services equally, electric and conventional vehicles could co-exist. A little change in demand won't cause much loss to the oil industry as it has utilization in various other sectors than just transporting.

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.

I agree, most of car enthusiasts don't like the "feel" of electric cars. It would take a lot of time to change this mindset, conventions are indeed hard to change.
Lubrication oil makes a very very tiny percentage of the actual oil industry, so small that its only referred as a by-product.

[ramgonzales]

It will take time for the electric cars to gain over those with gas engines. The main reason for this is the price of electric cars. It will not be commercially successful due to this. Maybe if electric cars are cheaper, then there will be a problem for the oil industry.

[Lou-Lou]

not too bad, I think. still we need to produce that much electricity somehow...

[Ailmand]

Those in the oil industry must know that they are working with a finite resource, however the price will fluctuate wildly but the long term trend is up. It's just whether all the current systems that run on oil can be converted to other power sources before it runs out. Oil will be fine for a while, it's in a glut right now but that can tighten right up any day.

That's right. Even oil companies right now are exploring ways to try to prolong the use of oil through mixing their fuel with other additives, so it won't be composed in totality of converted fuel. Another thing is even if it would actually hurt the oil industry, it won't be much because there are still lots of cars in the market today. There are so many vehicles that the supply of fuel and electric cars are even not enough to sufficiently support the demand. It's just a matter of what options people would better choose in their cars, some like fuel because it's easier to find, while others want to support the green movement and switch to electric cars.

[achsan fauzy]

currently, the supply of oil decreases. So, I think the breakthrough to develop the electric car is a very good decision.

[winteroxalis]

Not at all. I think the world will still be dependent on gas regardless.  The electric cars   major challenge is costs. Battery technology is expensive, and because batteries in electric cars need to be able to hold massive amounts of charge to make the cars practical for most drivers, they have to be built using expensive materials, most of which are tough to procure. Because electric cars cost a lot to build.
 This industry (electric cars)  will not grow as much .. probably need another decade or so. for us  to see if it can really effect the oil industry.

[Accessence]

Yes they are, and the giants will do the best they can to slow the progress.

[crocss]

The electric car is environmentally friendly but can not yet replace the oil car I guess if the oil has begun to run out some electric cars will become popular and in mass production.

[trolliban]

The oil industry will reach an end eventually, electric cars cannot replace normal cars anyways so basically they should compete together and not against each other. What can put the oil industry at risk could be a fuel that can be made of renewable sources like biodiesel or similar

[golek upo]

I'm sure someday a manufacturer of fuel oil will be experiencing bankruptcy. When the oil has run out.

[Netnox]

The electric car is environmentally friendly but can not yet replace the oil car I guess if the oil has begun to run out some electric cars will become popular and in mass production.

On average an electric car is around 8 to 10 times more expensive when compared to the equivalent gasoline-driven car. As long as it remains unaffordable to the majority of the world population, electric cars can't expect to replace those run with gasoline and diesel oil. Another factor is the unavailability of Lithium, which is needed for making the batteries of electric cars.

[curry101]

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 will affect the oil industry, if electitric cars and electronic bikes  became popular and the quantty of these electric transportation grow then the demend in oil will go down.

[DrewAn]

Probably will, but definitely good for our environment,
A possible treat to oil industry and economy specially US and Canada and other countries big oil producing

[cryptonomics.global]

Electric cars for oil industry is the same that cryptocurrencies are for bank industry. It more new and better technology. Today only stupid don't want to undersdand that electric cars - is the only future of this industry. As cryptocurrency is for financial industry.

[Chikitita2004]

Yes they are but, there not really  much electric cars in circulation now. If there will be, the oil monopol countries will lost their souce of pride if it happens. The rich middle east countries who rely in their sales of oil will lost profit if it happens.

[yonjitsu]

It is very obvious that this technology is affecting the oil industry in its revenue, IMO. Just like Bitcoin to banks, email to business mailers and shippers, new technology is going to evolve that would make the present system obsolete over a duration of time.