Post
Topic
Board Economics
Re: Are electric cars bad for the oil industry?
by
wanted sliter
on 02/04/2018, 05:41:58 UTC
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?
Exactly. Gas exploration is becoming increasingly scarce, it's a big industry and the capitalists certainly want to keep it. Fossil fuels will soon be exhausted, and people will soon find alternative fuels. In order to feed its industry, the capitalists certainly will not reduce gasoline prices.