Of course. Most of the most active are small companies (see first link), but whatever they say and do in public, the big oil companies will have long-term planning for the time when their primary product (oil) is either too expensive or too scarce for effective economic use. They are energy companies, not oil companies. For Shell’s promotion regarding their use of biofuels, see second link. Google other companies to find their renewable efforts.
They’re all researching — their most prominent investments, typically, are in biofuels, because these require the least deviation from the status quo with regards to usage. They’re still relatively stingy with their research, but its happening none the less.
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