Are electric cars bad for the oil industry?

[eaLiTy]

Certainly, it will affect a certain part, the profitability of the oil industry will decrease, that is something that oil companies never want to happen, and they will cut the workers, unemployment will increase. And in fact, this can not happen or just happen in the very distant future because the cost to buy an electric car is too expensive and the speed, the time of use is very limited, it does not satisfy the needs of the user, inconvenience is too large, it is not really suitable for this modern life

Sure the electric cars are expensive but if you are following the market you know that electric cars have progressed a lot,there are hybrid versions too like Hyundai Ioniq and now you could drive over hundred miles without charging and check out the Tesla Model,these are all awesome cars but they are costly and with time it will come down,it is bad for the oil industry,who cares,with new innovations like these we have to move on and embrace the technology.

[cryptojaani]

Its not bad, but electric cars can affect for the oil industry.
The advantage of electric cannot produce smoke pollution than fuel.

There is no doubt in it that it will effect oil industry.
As if this will happen It is really going to have big effect in the oil industry if the cars are going to be electrify and going to use electricity instead of oil. But of course the use of oil is everywhere but it is going to have big slash for the oil companies if cars are going to adopt electricity.

[taxmanmt5]

It will bad for oil industry for sure. At this moment people are willing to buy other cars because electric car cost a lot and they can't afford it. More than 90% people don't use electric cars. It may take 20 years because the company has to develop some charging stations. I don't have any idea about present, but maybe in future electric car take place which can be harmful for oil industry.

[congresowoman]

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 that in the next few years electric cars will not be as popular as fuel powered cars because we can still mine those fossil fuels but supply are reaching scarcity. And as far as I know, there are still methods of producing electricity derived from fuels also (so oil industry will never go bankrupt). For now, let the fuel reign in the realm of automotive industry. Who knows after all the oil rigs dry out, electric cars will be famous.

[Celine Ariola]

The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat.

“The number of EVs on the road will have major implications for automakers, oil companies, electric utilities and others,” Colin McKerracher, head of advanced-transport analysis at BNEF in London, wrote in a note to clients. “There is significant disagreement on how fast adoption will be, and views are changing quickly.”

[Aishiteru]

Are electric cars bad for the oil industry?


Yes. Electric cars can be a disadvantage to oil industry for it will lessen the demand of oil since electric cars uses electricity in order to function. If ever, electric cars will be accepted internationally the oil industry will surely fluctuate from its highest market demand.

[Prettyme]

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

Yes,because if electric cars will be exist ,therefore the sales of the different companies will decrease . Especially the middle East which is considered as the main producer of blackgold  entire the world. For my own perspective as a citizen of the Philippines,it's good to have electric cars ,because it has a lot of contributions and benefits to our nature. First,it will reduce air pollution second ,it will be more convenient into our everyday life and lastly it gives a new outlook to our highways and streets .

[rommelo24]

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 will affect the oil industry for sure but i think it would be minimal because the volume of electrics cars are not that high today. Maybe in the future when government will fully implement the production of electric cars, that's the time we can see it's impact on oil industry. It would also benefecfial to the environment because air pollution will be reduced.

[chickenfried12]

if it is not supported by some economic forces in the world, it will be accepted within 10 years because the electrified vehicles will be accepted in such a way that there are very big developments in energy and this may be a beginning oil officers should not miss this opportunity

[Altf4]

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?

There is another subject about electric cars. They are sustainable but they need high level energy. In the future having electric car will be easy for many people. They have risks for oil industry. Especially in the future people will stop using oil for energy. Think about 50 years later. It will not a dream.

Yes its true electric cars will be bad for oil industry simply because it will not be using fuel anymore and it will take some part of the profits of oil exporting countries and their related company ,so it is also a treat for their industry and economy ,in which oil is produce.

[burakdat]

yeah there might be a fall down to the oil industry with these electic cars. Yet, it is not only cars are using oils. There are other equipment and devices using these oils. Well these might be a good thing for the mother nature which these set of event may promote and preserve these resources. We have to endure that there maybe loss in terms of employment but we have also to consider also the good of mother nature or the earth. In doing so, we have to make remediation with these unemployment and other related problem that will arises. And if these problems are being taken into place then these are win-win solutions.

[thoerz18]

electric cars are more environmentally friendly, electric cars can reduce the dependence of gasoline and diesel with this disposal of fuel or exhaust gas is also certain to be reduced ,, so electric cars have no adverse impact on the oil industry

[alyssaxx]

Yes, some other countries are engaging in electric cars because electricity is more cheaper than oil. Oil become more expensive day by day and sometimes no enough supply. 
Hopefully those electric cars will be use wordwide to minimize the pollution that damage our mother and our health.

[Jr.Sasha0209]

The transition to electric vehicles is a plus for the environment only, on the pockets of ordinary people this will not be reflected in any way, as they will equalize to the price of fuel, but before the introduction of electric vehicles to the market, it is still very, very far, since everything ends at the level of conversations

[Dux2K]

Yes, some other countries are engaging in electric cars because electricity is more cheaper than oil. Oil become more expensive day by day and sometimes no enough supply. 
Hopefully those electric cars will be use wordwide to minimize the pollution that damage our mother and our health.

Its not just that oil reserves are lower with every year and not much is left. They try some others methods like deep see exploration in hopes of finding oil but evidently that this is big problem for all oil companies.

Electric vehicles are future at the moment and they will replace oil cars in next 50 years probably.

[Sate Jamu]

I think yes, this is what makes all oil companies trying to inhibit the development of electric cars, maybe the development of electric cars will improve after 200 years from now or when oil is extinct, so do not ever think of having an electric car right now.

[Dragon5]

Actually, cars industry has been at the deep end for 10-15 years, because more and more cars are produced but only a part of them are bought. People cannot afford/ do not nedd so many cars. Probably, selling new types of cars in order to replace old models could help.

[Pipin Mali]

Of course they are, oil industries will need to adapt and spend large amounts of money to keep up with their electric competition.

[CarnagexD]

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?

No, because electricity on most of the country is generated with the used of oil which means it is not a bad thing to have electric vehicle market to trend up or to experience development. And I can see that it is much good to used electric vehicles now or in the near future for us to sustain the world and to have a environment that is less prone to have golbal warming.

[ginika]

demand for fuel oil (BBM), will go down in line with the increasing number of electric cars that will be produced. plus, as more and more countries are banning conventional car sales over the next few years.
if an electric vehicle is able to occupy one-third of the market by 2040, it could lead to a decrease in fuel demand by 9 million barrels per day, or about 90 percent of Saudi Arabia's production every day.