Energy producers fear Biden executive order on climate-related financial risk
A little-noticed news event this week with potentially major long-term implications for the U.S. oil and gas industry was President Biden’s executive order directing federal agencies to address the risks climate change poses to the U.S. financial system and federal government.
Biden’s order directs federal agencies to incorporate the economic risks from climate change into decision-making, and it does not specifically address fossil fuel investments, but the concern among energy producers is that financial regulators ultimately will use their power to steer banks and investors away from the industry.
Many big banks, setting targets to align their financing with the Paris climate agreement, already have ended funding for coal projects, and the oil industry fears it could be next.
This week, the G7 nations agreed to stop international financing of coal projects by the end of this year and phase out such support for all fossil fuels.
Also this week, environmental activists who have long called for ending such funding got a boost when the International Energy Agency said “investment in new fossil fuel supply projects must cease immediately.”
Who's gonna tell China??
Will “60 Minutes” get canceled now?
60 Minutes Runs Explosive Segment Featuring Young Transgender Individuals Who Decided To Reverse Course
On Sunday, CBS News’ “60 Minutes” ran a segment about transgender issues facing today’s young people in America, which featured, in part, transgender individuals who decided to reverse course after taking hormones and undergoing surgery.
The segment featured how transgender activists have pushed back on legislation across the U.S. that aims to protect children from undergoing potentially life-altering medical procedures before they are old enough to understand the ramifications of their decisions. One of the transgender advocates said the fact that so many transgender individuals had decided to de-transition was proof that more resources were needed for trans individuals, not fewer.
...so they just need more money...
Sounds like the price of electricity is going to skyrocket. Necessarily so.