No, they would be directly investing in their competitors by doing that. The link provided below explains how OPEC does everything in its power to lower oil prices to create a larger barrier of entry for renewable energy markets. If peak oil is reached and supply declines or if there is major shift in social ideals that phase oil out of the picture, then these companies may try to adapt by transforming into clean energy companies. For now, oil companies are well established and maintain the lion’s share of the energy market. They don’t seem to share the environmental concerns that sparked the renewable energy market.
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