The investor encouraged me to notice which initiatives fossil fuel funders were taking interest in at the conference: not in near-term technologies that could replace or knock out their product, like solar or EVs, but in longer-term ideas that will take a lot of research and capital, and give them room to keep producing as much oil as possible in the next decade. A start-up that works in hydrogen or carbon capture makes sense for an oil company to invest in. Besides, fossil-fuel companies have a lot of money to throw around, the investor told me, and it makes sense to diversify.

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