Despite what you might think, Big Oil knows its batteries. The first rechargeable lithium-ion battery to hit the market in the late 1970s came out of Exxon, of all places. So Total’s announcement on Monday that it will pay $1.1 billion for battery maker and compatriot Saft Groupe isn’t out of left field. Except that it is, in one important respect. Total has made a point of investing in renewable energy, even as rivals such as BP — remember “Beyond Petroleum”? — have pulled back. In 2011, Total acquired a majority stake in U.S. solar equipment manufacturer SunPower. And CEO Patrick Pouyanné had this to say at last year’s analyst day: There are debates about oil and gas companies, about [the] impact of climate change on us. We cannot elude the debate. … I have a strong conviction that ecology goes with economy. … For me as a CEO, […]