Oil Majors & Renewables Business

I'm interested to see that BP is having trouble with its renewables business. Shell is having similar issues & has sold off its PV business.

I wonder if this signals the decline of Big Oil companies. If BP, Shell and others can't diversify away from oil&gas, then in the long term (30 years) they are eventually going to fold. Already they are having trouble replacing their reserves. Very few companies manage to survive a major shift in the market - which a move away from fossil fuels and to sustainable energy will be. A well known study shows that only 16% of large companies managed to survive over a 36 year period surveyed. Big companies find it difficult to change.

I'm not surprised that BP & Shell are having trouble with their renewables business - they have no competitive advantage other than access to capital. They also seem to have invested in everything (Wind, Solar, Biomass, ...), rather than focus their efforts on one technology. I think the only way they are going to be successful in the long term is to focus their efforts on the one technology they do have experience and an advantage in, which is Carbon Sequestration.