ESG: Is This Green Iron-fist Fantasy a Major Cause of Inflation and Economic Destruction?

By Selwyn Duke

Is rich people’s greentopian fantasy causing middle-class misery? The answer is yes, according to analysts such as Marlo Oaks, Utah state treasurer and longtime investment manager. In fact, Oaks says he knows a major reason why increasing fuel prices, which drive up costs across the board, are so high:

Supply is being choked off by “woke” capital investors who favor green dreams over fossil fuel practicality.

Making his case, the Utah official states that in 2015 there were 59 funds globally among institutional investors that raised 46.6 billion dollars for oil and gas projects. Yet note what happened during the next six years:

By 2021, there were only 11 funds and 4.6 billion dollars raised — a drop of more than 90 percent.

Oaks fingers as culprit something called ESG. What is ESG?

Read the rest here.

Comments

[tj]

Lots of people put their money into oil and gas. I find it unlikely that Blackrock's ESG strategy is able to effectively shut down the oil industry in Europe and the US. The oil companies still make huge profits and are refusing to lower those profits the least little bit to spare Americans. Nice try, Selwyn. It's almost as if you're getting paid to do PR for the fossil fuel industry.