this post was submitted on 06 May 2024
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Surely the oil and energy companies have their own investments into renewables. I can't imagine why Rs would die on this hill except for their little culture war.
Because you can't corner the renewables market like the oil markets have been. Also oil dependence means a constant need for oil. Solar panels or windmills are much more install and forget. So yeah, they can invest in oil alternatives, but they won't make nearly as much money from it.
Oil companies usually do not, but electricity companies do. The problem is that oil companies are great in geology, drilling and chemistry. Geothermal is a similar skill set and chemistry can be used in other products, but the first is small business and the other not renewable nexessarily.