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A comment on Oil Needs to Fall Below $20 to Compete With Green Alternatives. Parent comment

Re:Oil Needs to Fall Below $20 to Compete With Green Alterna... by navigatesol on Monday August 05, 2019 @08:12AM (#20613440)
>The worry is that oil companies are making investments now for 10, 20 or 30 years into the future and not taking into account the realities of making a return.

Do you really believe that hundred-year-old companies aren't planning their future? Sure, some companies will fail (they always do), but others adapt. Every oil company is well aware of the effects and politics of climate change, and most have massive renewable investment in the works. What gives you the slightest idea that you see something that "they" don't?

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Re:Oil Needs to Fall Below $20 to Compete With Green Alterna... by Brakenshire on Monday August 05, 2019 @08:26AM (#20613537)
You could say that about any incumbent industry player faced with a disruptive challenger, it’s surprising to see this sentiment on Hacker News of all places.

My comment was about the investments, not the companies. Some oil companies have significant investments in electricity grids, electric vehicle charging, renewable generation etc, and some do not. Even if they do, it’s not obvious they are best placed to be competitive in those industries or sustain the same profits, although hopefully they can do well. BP made a big investment in solar which it gave up on, now they are investing in charging infrastructure, hopefully that will turn out better.

[ Parent | on HN ]