The oil companies rebranded themselves as energy companies because they're definitely not stupid: if they can take their existing capability and use that to ent

The oil companies rebranded themselves as energy companies because they're definitely not stupid: if they can take their existing capability and use that to enter a whole new area, they'll do it. In particular because there's no actual competition between geothermal power and the petrochemical industry: oil is far and away a transportation fuel (and a bunch of other vital things), whereas stationary power is coal-generation. If they can take drilling expertise and turn it into a geothermal power concern cost efficiently, then they'll do that.