Fossil fuel investment has been climbing year-over-year. Fossil fuel companies aren't replacing existing infrastructure to taper out usage of fossil fuels. They are introducing and expanding with new infrastructure.
This is just a 5 year graph and it seems to show level funding. Where do you see expansion in this graph?
Of course any investment is new infrastructure. I think the analysis you want to do is a long term trend line of fossil fuel investment and a projection into the future.
What we, hopefully, want to see is that the overall % energy production projected into the future is decreasing.
Fossil fuel investment has been climbing year-over-year. Fossil fuel companies aren't replacing existing infrastructure to taper out usage of fossil fuels. They are introducing and expanding with new infrastructure.
From the Bloomberg NEF 2023 Energy Transition Investment Trends report, which is incredible reading: https://about.bnef.com/energy-transition-investment/