Some folks in parts of the world are very reliant on gasoline, while some are more dependent on electric. Petroleum based products however are still in absurd demand by almost all parties. How do you stand to fair if the oil situation continues to worsen? Plastics. Nylon. Jet fuel. Tires. Asphalt. To name just a few things that heavily rely on oil byproduct.
This is what was wierd to me about the oil opposition to solar. return per barrel keeps on dropping and things like wind and solar just bring back the return energy wise. Why didn’t they just invest in it?
They did, to some degree. But usually new players are better at capitalizing on emerging technologies. Kodak did invest in digital photography, and Nokia in smartphones, to give some examples.
Shell had a solar division which they sold in 2006. (It has since taken some stakes in solar and wind projects.)