What will become of the oil companies if Hydrogen cars become reality?

Question

Do you think they are raping us on prices now knowing the industry will shrink in coming decades?

Answer 1

They are not "oil" companies, they are energy companies.   ExxonMoble will still be selling you the fuel for your vehicle, it will just be a different commodity.

Answer 2

Haven't you heard - Oil Companies have been diversifying for over 20 years. They already own most of the photovoltaic (solar panel)  industry.

When gas passes $10 gal then Hydrogen cars will become feasible - they are now very inefficient.

Answer 3

Oil is still used elsewhere Home heating oil,power plants, thers a multitude of uses out there...

Answer 4

The oil companies are part of driving the hydrogen research. Mainly because hydrogen is the hardest fuel to use and the easiest to produce from fossile sources.

Hydrogen cars are decades from being put into production. GM's chief hydrogen PR man stated 30 years until a reliable fuelcell car can be put on the road.

Answer 5

Where do you think the hydrogen will come from?  Where do you think you'll be filling up your car?

The hydrogen will come from oil, not water.  There is more oil than fresh water, and oil corporations already have distribution outlets for filling up your car.

Hydrogen cars will only cost more to fill up than they do now, much more.  Oil corporations will make multiples of what they do now.  

Having the gvmt force people to use hydrogen in their cars will only cause unheard of profits for big oil.

It's the law of unintended consequences.

Answer 6

They will make the hydrogen.

Answer 7

Why is there always have to be something burning in the engine? I believe electricity has much more potential in the car industry than gas and hydrogen. There are many ways to create electricy from natrual resources including the sun, dams, nuclear reactions (using not only uranium but thorium which can be widely found in the nature) etc.

Not only they are not a concern for global warming, electric cars' electricity will cost less than 1/3 of the oil price today (for almost the same performance) based on some article that I read on internet. Of course the cost will come down if the electricity is mass produced in greater amounts. Some electric cars I have seen in shows only take up to 15 minutes to recharge and drive for 40 miles. The milage can be greatly increased if they use ion lithium batteries. (up to 150-250 miles per recharge)

About the price raping, yes. This was and is their plan. Everything goes with the government's plan. Who knows if so far many new inventions have been introduced but never taken effect in the industry because it could have damaged the oil industry?

There is only one way the oil prices go. UP. The demand will become less and by probably 2050 oil companies will start going out of business because of decrease in both supply and demand.

Answer 8

Don't worry, they'll figure out a way to control that market too.

Answer 9

Many oil and other energy companies are looking for new sources of energy already.  They know that fossil fuels are being depleted, and that as the prices rise, petrol vehicles will fall out of style.  They don't want to be on the outside looking in when that happens; they want to be spearheading it so that they can make the most money out of it!

As for raping us on prices: yes, they are doing that.  Despite billions of dollars in profits, they are still demanding government subsidies and receiving them due to their powerful lobbyists and campaign contributions.  Statistically, the candidate in the race with the most money almost always wins the election.  Any politician who wants to keep their job would be foolish to turn down a legal campaign contribution.  They could stick to their guns and turn down the contributions, but losing the election doesn't help the situation either.

But I digress...without government subsidies, U.S. citizens would be paying more, but not all, of the true cost of burning gasoline and seeing $6-10 per gallon gas prices like much of Europe experiences. (And by "true cost," I mean pollution, health hazards, and many other factors of this practice that people don't usually take into account.)

One last word: At this point, the future of hydrogen cars is not looking so good.  To split the H2O molecule into hydrogen and oxygen, it takes more energy than you get out of it in hydrogen.  Electric cars are much more practical, and the technology is growing everyday.  For more information, you should see a movie called "Who Killed The Electric Car?"

Answer 10

Raping us?  When you pump a gallon of gas the oil companies make about 9 cents.  Most of that money is rolled forward into exploration and refinery development.  Without them you wouldn't have oil at all.  Without any ONE of them you would be paying a lot more.

High price is the only thing that will reduce demand and render alternative energy cost effective.

Answer 11

They will continue to have a market for their product.  Much of the world will not quickly convert to hydrogen. Plus, oil is used in manufacturing of plastics and other materials.

I think the oil companies are not solely responsible for the 'raping'.  I notice that as soon as gas prices began to drop, Democrats insisted we needed an additional gas tax to more than make up the difference.  Also, energy speculators largely affect the price at which the stuff is bought.

If Bush's progress on converting our nation to Hydrogen wipes out petroleum as a fuel, oil suppliers like Saudi Arabia will be strapped for cash - and what will all those millions of agitated Muslims do with no more income...?  Who will they blame?  Methinks that is the real worry.