For the simple fact that even if it's true that renewables are cheaper than oil, it's still a much higher investment to build a renewable plant and hire people who know how to work it than it is to continue existing operations with existing people.
Edit: In addition, if the environmentalits were to "win", that would turn essentially the entirety of these companies' existing capital into 0 value. So not lobbying to stop that is extremely dangerous.
>it's still a much higher investment to build a renewable plant and hire people who know how to work it than it is to continue existing operations with existing people.
But someone is still doing that investment and will eventually reap the returns, so it still seems short sighted for existing energy companies not to try and outcompete them.
>that would turn essentially the entirety of these companies' existing capital into 0 value.
Honestly, I'd be kind of happy if these companies invested in renewables (even with government subsidies) and were lobbying the government to buy back the fossil fuel infrastructure that isn't needed anymore...
Edit: In addition, if the environmentalits were to "win", that would turn essentially the entirety of these companies' existing capital into 0 value. So not lobbying to stop that is extremely dangerous.