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December 17, 2014

This Is Why Elon Musk’s Electric Car Company Is Tanking

Elon Musk and Tesla have been big talk this year, and they sure are ending the year off with a few headlines, albeit not so good ones. Have a look to see why.

Tesla has been on everyone’s lips for months now – the electric powered car from Elon Musk seemed the answer to everything.

But now, thanks to the oil price dropping, so has interest in Tesla dropped.

Cheap oil is a clear argument against electric cars, at least in the short term. Cheap oil is also an argument against hybrids and fuel-cell cars and anything that doesn’t run on gas.

The share price dropped to $195 on Tuesday, the lowest in months, but managed to close on $202 a share.

Check out Business Insider