All while we are trying to get away from fossile fuels. At least superficially there is a mismatch here, between the profits and some perceived Zeitgeist.
Does BP do many other things, besides fossile fuels?
The real question is: how big are their profits/profit margins for the new market?
Edit: and here is the money quote:
> The company acknowledged that its fast-growing clean-energy business - including its solar, EV-charging and wind ventures - continues to lose money. BP does not expect profits from those businesses until at least 2025.
Investment is like that. First you spend on acquiring stuff, like building a large wind farm in the ocean. Then it starts to bring money, and eventually pays for itself.
All the time while you are building the wind farm, you are spending more than the installation makes (it makes nothing), so you are losing money.
Regardless of what the perceived Zeitgeist might be, oil is still king and will remain for many years to come; it has incredible momentum and has been defining the world's economics for almost 200 years now, look at any chart with global GPD to oil consumption.
> All while we are trying to get away from fossil fuels. At least superficially there is a mismatch here, between the profits and some perceived Zeitgeist.
Not necessarily.
You might be right, but as someone said: the best and most profitable to their makers buggies were probably built in the first few years before cars took over road transport.
We won't know which of these it was until after the fact.
> Does BP do many other things, besides fossil fuels?
They probably do many other things, such as any large enterprise. The real question is: where do most of their profits come from, and would they be able to pivot away to another major profit center? History tells us that most other companies in this situation don't have other major profit centers nor are they able to create new ones. There are exceptions, of course, that's why we call them exceptions :-)
Does BP do many other things, besides fossile fuels?