Is it logical to expect the oil industry to seek competing fuel while making huge profits now?

is anyone interested to sink money into a product that will eliminate the original, very profitable product he/she is selling?


Why should the (monopolistic) oil-industry throw their huge profits into any industry that will destroy their current profits?Is it logical to expect the oil industry to seek competing fuel while making huge profits now?
For a couple reasons. First is marketing. They know their customers are concerned about alternative fuels and will respond positively if the company is investing in finding alternative solutions. Second is future profitability. Eventually, oil prices will get so high that consumers will do anything to avoid paying for fuel. Oil companies want to be there with an alternative to scoop up even more profits once that happens.

albinism