BP announced they are taking a $4 to $5 billion hit to their Q4 earnings. The loss comes from winding down their energy transition business, specifically exiting Lightsource BP and US onshore wind projects. They aren't the only ones pulling back. Ford recently mentioned a $19.5 billion loss related to EV plans, and Shell has been reducing its low-carbon investments too. It looks like profitability is becoming a major issue for these companies as subsidies dry up and government policies shift.