“Two words: stranded assets.”

That was the reaction Wednesday from sustainability professional Jessica Davis after oil giant Chevron announced that it was writing down at least $10 billion and as much as $11 billion in assets.

Reuters reported:

“Oil companies have struggled to reap the profits of old and are falling out of favor with investors amid fears that electric vehicles and renewable energy, along with government regulations to address a warming planet, will constrain their futures,” the Wall Street Journal added.