Are electric cars bad for the oil industry?

[Sallysakky]

People already can switch to the alternative energy, to electric cars, etc., but oil monopolists and influential people doing everything to hinder such a changes! It's a huge money and power..
Anyway, we are moving in this direction.

[MoonHodler]

manufacturing electric cars will still depend on the oil industry, but it might be bad for the "oil as an energy source" industry.

[ningrum]

manufacturing electric cars will still depend on the oil industry, but it might be bad for the "oil as an energy source" industry.

if for electric cars whether to exacerbate the oil industry in any country, there is currently no certainty, because at this time it seems also there is no provision of the oil industry, which cooperates with the manufacture of mobility.

[Guapongbadoy]

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?

Wow this is great invention as it will going to force the all oil companies to make the price of oil be at the lower price. Also this will decrease the high problem of air pollution.

[chrmn27]

This may be bad for the oil industry for the sense that it will greatly affect their sales/revenues. However, oil industry could still be alive since many other things uses oil. Plants for manucfacturers, households, etc use oil.

[Yakult]

E-cars will not impacted the oil industry. Oil is not only for fuel for cars, there's a lot of use for oils. Fuel can be converted to electric when proper machine is used. Therefore, even assuming that the cars are running using electricity, still oil is needed to be converted to electricity and different kind products.

[douhancan58]

New energy automobile manufacturing cost is higher, so that new energy vehicles sales price is higher, so compared with traditional gasoline diesel car, part of the quantity is small, the impact on oil companies almost negligible! In the years to come, unless the technology of new energy vehicles is made a breakthrough, this phenomenon will not be changed for some time to come!

[tempebacem]

Yes, obviously it will be bad for the oil industry. However, the current number of users is very limited because the production itself is very expensive, but remains a threat. Also, the people behind the petrol / oil industry will not give up without a fight. I think they already have contingency plans if hype happens. It will also have an adverse effect on the economy, somehow because we have been using oil for a long time.

[Rooster101]

The crude oil that mined in oil-producing countries is not unlimited, the world's oil reserve will soon slowly depleted in the coming years to come. The invention and mass producing of electric cars will be a big help to the motoring because it will lessen their dependency on oil and it will reduce air pollution. The electric car is not bad for oil industry but it is the oil production because it will continue depleting the oil reserve.

[ekans45]

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.

The idea of an oil free industry, due to the popularity of electric cars in the market, will definitely alarm the global oil industry, Even though it is mentioned that oil is finite resources, it will take a long time to drain all its deposits. It is still one of the highest players in the global market, since almost everything rely on it. Yes, there are alternative power resources being developed, but still, This subject, has to be study deeply. World economy is at stake, every time oil is the topic of discussion.

[zoran.drobnjak]

It is just a question time.

Running things on electricity vs. oil.
Using crypto vs. fiat.

Now the real question is not WHAT, it is WHEN.
It will take some time till we reach there, maybe not in our lifetime.

[Jeremiesaranza]

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 gives unemployment to some drivers when electronic cars are become the transportation of the passengers like in Metro Manila because some didn't avail the cost of electronic car and it reduces pollution to the environment

[fanhuaijiao713]

Electric car has a little influence on the oil industry, but there is no exact number to reflect, we can't say how much this effect, I think it is very small, because the price of the electric car is very expensive, which leads to the ownership of the electric car is very small, and still less popular.

[bgsmrtftboy]

When the electric cars are adopted mainstream and used widely sooner or later it will affect the price, but not now. Only when large number of cars strike the road we can understand the real facts.

[lionheart89]

oil is a limited energy therefore renewable energy that will be popular in the community such as electricity. the electric car industri will be increasingly popular along with the development of technology and because the electric car is environmentally friendly.

[ju5510993]

Electric cars have a certain impact on the oil industry, but the basic impact is negligible! Because of the high cost of research and development, electric cars are not very large in number of cars, and oil companies are also used in many industries.

[mafia22]

By 2030, the oil industry will lose $ 2 trillion due to the production of electric vehicles, according to Goldman Sachs

[Viyamore]

By 2030, the oil industry will lose $ 2 trillion due to the production of electric vehicles, according to Goldman Sachs

Its only okay because oil is only limited we don't have an unlimited resources. Electric cars will lessen the pollution and other harmful substances that an oil or diesel car produced in the air. Take a look more into the advanatges rather than disadvantage.

[jaysabi]

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?

Maybe but the things is that it would not be around only until it is gone. Petroleum had been held by capitalists or entrepreneurs and is a good source of income for a country. Despite its effects on global warming petroleum could not be put to stop. Besides some of the powersupplies use petroleum as fuel before it could generate electricity. There had been inventions of using water as gasoline and it is more abundant maybe you can just urinate and separate hydrogen then you have the fuel. But i wonder where are these inventions? Are they banned? I was told that these inventions did not became popular because of the reason stated above. The Capitalists Control the economy. So approval to this invention is a big question.

It takes energy to separate hydrogen from water molecules, so it's not like you can just dump a bunch of water into a car and have it run on only the hydrogen. Also, a car that runs on hydrogen still burns the hydrogen to produce the power necessary to power the car, and water does not burn. Cars that run on "water" do not exist, it's science fiction. Cars that run on hydrogen require (that may have been stripped out of water molecules, which is not the same as running on water) must have the hydrogen isolated into fuel cells (most likely), which can then be utilized as a power source.

[juragane]

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 companies are in stark contrast to electric-fueled cars, it will make oil companies and oil investors frightened because the oil they sell is not too in need anymore.