Posted on 05/26/2022 7:24:54 AM PDT by bitt
So many interesting conversations this past week. During a chat about energy issues with the CEO of an advisory company, he stopped mid-sentence and said, “You know, our main problem right now is that those who are making all these decisions are not serious people.”
The CEO of one industry trade association, discussing last week’s decision by the Biden administration to cancel three more scheduled federal lease sales, told me that, “by this point in Barack Obama’s first term, his Interior Department had conducted more than 50 such sales.” Sixteen months into the Biden administration, the number remains stuck on zero, even as the administration continues to harangue the industry for failing to produce more oil and gas.
I was asked early this week by Faiza Rizbi, Senior Editor for ESG at Hart Energy, for my thoughts about Elon Musk’s recent dustup with S&P Dow over its de-listing Tesla TSLA from its ESG index. In answering, I compared the cottage industry that has grown up around the ESG (Environment, Social, Governance) rubric to the recent practice of public schools spending most of their class time teaching to a standardized test rather than focusing on real learning and rewarding students for real excellence. Mr. Musk feels his company is basically already an honor student in this realm and obviously believes taking the standardized test is a waste of time and money.
While S&P Dow obviously has a right to formulate its index using the metrics of its choice, I certainly think Musk has a valid argument in that regard.
The ESG movement is an outgrowth of the “Keep it in the Ground” movement, which itself was an outgrowth of the “Divestment” movement that germinated early in this century. Given that investment firms like BlackRock BLK , which use ESG principles
(Excerpt) Read more at forbes.com ...
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“Sixteen months into the Biden administration, the number remains stuck on zero...”
The fact is, energy companies are going to drill to meet demand. If we don’t let them drill here, they will surely find some other country willing to take a load of money to let them drill somewhere else.
Climate Change Radicals are already doing more global damage than actual climate change (if indeed there is any) will ever do.
But that’s a feature, not a bug.
Never forget that “global warming” was invented by the neo-malthusian Club of Rome, whose prophet is Maurice Strong, as a tool to force drastic reduction of human populations.
Make no mistake. Green lunacy will cause famines and horrible hunger wars.
The snippets of reporting about the World Economic Forum (of ultimate movers and shakers) doesn’t exactly inspire confidence.
btt
Read this entire article that is written by an energy realist.
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