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Will electric cars mean bad news for the oil industry?
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E-mailMade Popular Sep 12 2008
Soon people would be able to choose between the petrol pump and the electric socket to power the same car. Toyota has launched trials of the UK’s first petrol-electric hybrid car that can also be plugged into the mains.
Gradual shift from oil-based to electric transport is good news for environment but so far, electric car ownership has been very much about accepting compromises in terms of speed and handling, as well as range.
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For the oil industry, yes! However, we should be talking about how good it is for the consumer and the environment. Alternate, green fuels will create a better future and it’s high time we do our bit to promote them.
It will be bad news for oil industry in the long term without doubt. The important aspect is that the technology with hybrid fuel and even complete clean fuel has a long way to go forward while the only path that oil industry has from here on is one way down. It is not like they are going to make fossil fuel all by themselves.
No. I don’t think so. Nothing can be a bad news for the oil industry. LOL! There is scarcity of supply always and everywhere. Countries are trying best minimize the gap between demand and supply, but no good news for the oil users. In this context electric cars are the best invention. It can never disturb the oil industry.
I hope it does but I don't think it would have much of an affect on the oil industry. By the time the world runs out of oil, there would be more such cars. The oil speculators who hold the world to ransom must suffer some way or the other.
For now, its a boon. But as development proceeds, energy dependence is also going to be an issue (if it isn’t already now) in the near future. Then we will have to figure out even other alternate modes of transport.
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Why think of business if the world needs to solve the aggravating situation of climate change? Although this is a test-launch, I am looking forward to see more hybrid cars in the streets.
Scarcity of oil reserves has been a problem among oil companies. Perhaps this move to innovative cars will help reduce this setback.