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InterestingHurry1834 OP t1_iuh9a4v wrote

But some energy companies are shifting towards other energy sources apart from oil

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DiamondNuts69 t1_iuh9mor wrote

Other energy sources are not as profitable as oil

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augustus331 t1_iuhm4hh wrote

I work in the renewable industry and stating that any fossil-fuel is more profitable than solar-PV or wind for that matter is not true.

The cost for renewables has come down from $380/MWh for solar in 2009 to around $40 in 2019, which is steadily dropping due to compound innovation and accelerated adoption.

I can't stress enough to conclude, that oil, gas, coal, lignite, wood, are not more profitable or economically sound (even when disregarding environmental damage, which we shouldn't), and they never again will be more profitable.

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DiamondNuts69 t1_iuhofip wrote

I work in wind. The company that I work for is -2Billion in profit in Q3.

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augustus331 t1_iuhq124 wrote

Alright, so how does that work, then?

Cost per MWh/KWh should be lower than hydrocarbon alternatives.

The losses are from CAPEX and scale-ups, or is the manner of production infeasible? If you can share, you don't have to name names ofc.

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BukkakeTemperateRain t1_iuh9rma wrote

True, but I don't find those prospects to be all that appealing. Personally if I'm investing in companies with a 7-10 Price Earnings ratio I don't want to see them dumping their money into R&D into a highly speculative field, I'd rather see that money get returned to me.

I fear that investment into alternative forms of energy are simply the companies death throes and I'll never see a return on my investment.

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