This week, BP announced it would take a $4–$5 billion hit to its Q4 earnings from winding down its energy transition business. The announcement followed a similar one from Ford, which said in December it would incur $19.5 billion in losses due to a substantial curtailment of its EV plans. These two are far from the only ones losing money on what was, a few years ago, considered a sure-return investment. And that’s bad news for net-zero plans. BP did not go into detail about the specific nature of the impairments it would book for the…