There have been a lot of moves like this by the big oil companies lately. It reminds me of a Stephen King short story called "The Jaunt."

The story is about the world after man has invented teleportation. Aside from being a handy way for the mafia to dispose of bodies, it also made burning dinosaurs unnecessary for transportation. So all of the big oil companies went into water. They became Shell Oil and Water, Exxon Oil and Water, British Fluids, etc.