The thing you have to remember in energy and transportation is that capital costs are high, and margins are thin. What do you think happens when a new innovati

The thing you have to remember in energy and transportation is that capital costs are high, and margins are thin. What do you think happens when a new innovation comes in and takes 20% of your market share? This is what happened in oil with fracking. Venezuela collapsed and everyone else is on the brink. Replacing 20% of IC cars would be just as catastrophic for oil incumbents as fracking.