Whats happening to oil companies when the electric cars come .I like oil but building a anti pollution system can save old models .?
- Anonymous1 month ago
If Biden ever got elected only foreign oil and gas companies would be allowed to operate under the supervision of his son Hunter . We would have to go back to horses and mules in our country for the ordinary people . The upper crust leaders like Gore and Biden would use the oil and gas because they are important
- 2 months ago
The railroads, airlines, shipping industry, military and plastic producers will have cheaper petroleum.
- Mr. PLv 72 months ago
They are buying into renewable markets in an attempt to own generation and distribution of those. Buying the patents mostly. This way they can still control the supply at whatever level they want simply by preventing other people from developing the systems or controlling their release.
BP have a large algae-to-oil plant under glass but won't roll out the technology until oil starts to run out.
- KayleenRLv 72 months ago
Try taking my XJS from me, you will have a war on your hands
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- Anonymous2 months ago
Since much of a electric car is made from plastic oil companies will be around for some time.
The oil companies will probably shift towards more clean energy like Hydrogen . There will not be enough electricity for some time to power up electric cars if gasoline power cars are gone in the future . Think of the investment needed financially to upgrade the infrastructure plus just the resources like new wiring .copper is getting in short supply now.
Relying totally on electricity is foolish anyway. What happens during blackouts . What powers hospitals , fire trucks during a blackout . Putting all our eggs in one basket is stupid
- it is iLv 52 months ago
They are energy companies, not oil companies anymore. They own natural gas supplies and are transitioning into electricity production.
- RobertLv 62 months ago
As less fuel is needed when more and more people drive electric cars, I think a smart CEO would invest in other commodities. I would invest in a rescue taxi service to pick up all the people stranded in their electric cars after they drove more than 80 miles and unthinkingly turned on the air conditioner. Maybe a tow company to tow all those lifeless hulks to an electric filling station so they can continue their trip beyond 100 miles.
- Old Man DirtLv 72 months ago
Oil has other uses besides as a fuel so it will still be needed.
As for electric cars- they have to be recharged, that is done by plugging it in to the power grid. The power grid gets the power by boiling water in most cases with a fossil fuel (either oil, natural gas or coal). The amount of energy loss between the point of generation and turning a wheel on the road is a lot. The net loss through the power grid results in an actual increase in green house gasses. It only changes the point of origin for those gases.