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The oil industry is full of really smart people, but this all appears to be so stupid. Why don't the fossil fuel companies just expand their investment portfoli

The oil industry is full of really smart people, but this all appears to be so stupid. Why don't the fossil fuel companies just expand their investment portfolios to include off-shore wind? This is all in their wheelhouse: mega-scale construction, off-shore ops, dealing with the government in favorable ways, and such a simpler and lower-risk business! It must be that they are just afraid of the entire idea of a competing sector? Or, they are addicted to the power they have controlling a more centralized energy distribution system? Or, what could it be? Again, I know these are not dumb people.

simongray 2mo ago
> The oil industry is full of really smart people, but this all appears to be so stupid. Why don't the fossil fuel companies just expand their investment portfolios to include off-shore wind? Some of them do, e.g. Ørsted here in Denmark is a former gas and oil extraction company which then became the biggest developer of offshore wind in the world. Trump has, by the way, been fighting the wind farm that they're setting up in the US currently ever since he came into office.