[giwook]

Except probably 99% of their profits come from oil. 99% of their infrastructure is setup for oil which has been honed and put into place over decades.

Can you imagine the cost of revamping all of that? And then they have to explain to their shareholders why their profits are a fraction of what they normally are, otherwise their stock price will sink which will affect the company in myriad ways.

There's so much to this space that I'm ignorant of, but I know enough to know that it's really not that simple.

[anon291]

They don't need to revamp. They have access to billions in revenue that can be put in to setting themselves up as key players in yet another industry. Many of them are doing just that. Eventually, they all probably want to dominate the battery / grid renewables industry as well. Why wouldn't they? They are uniquely positioned to do so.