Bill Gates: Some of the Oil Giants Will Fall in 30 Years
"The idea of cutting back on investing in the old as a tactic, rather than investing in the new, I just don't get it," said the Microsoft co-founder.
Bill Gates that the major oil companies will begin to make the transition to clean energy, however he does not believe that all will succeed.
According to Axios , Gates warned in a briefing said that we should not assume that the giants will fall with the new times, but added "Yes, some of these giants will fall, you know, within 30 years, some of those oil companies they will be worth very little. "
The Microsoft co-founder went on to say, "I hope some of the big companies will do it. We are certainly open-minded. The idea of cutting back on investing in the old as a tactic, rather than investing in the new, I just don't get."
According to reports from Axios , several large oil companies, especially in Europe, have diversified their operations towards renewable energies and the charging of electric vehicles and hydrogen, although fossil fuels remain their main line of business.