Probably a good thing there will be diversity in the market but they better be careful their shareholders don't revolt:Chevron Won’t Cut Oil & Gas Business For Renewables | OilPrice.com
This is a good thing. Without oil and gas the EV evolution will NOT happen. This fact came straight from the mouth of Elon Musk.
"At Chevron, 61 percent of shareholders backed a proposal at the annual general meeting last month that the company cut its so-called Scope 3 emissions, the ones generated by the use of its products, rebuffing the board, which had urged shareholders to reject it."
This part makes you wonder what's going to happen to oil prices down the road:
"Shell, for example, affirmed earlier this year its oil production peaked in 2019. BP looks to slash oil and gas production by 40 percent by 2030, while Eni sees its oil production peaking in 2025."
The next couple decades are going to be very interesting.