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

[WisconsinLiberty]

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

The New American
June 15, 2022

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 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 raised — a drop of more than 90 percent.

Oaks fingers as the culprit something called ESG. What is ESG? Standing for Environmental, Social, and Governance, it is, technically and ostensibly, “the measurement of the impact (both positive and negative) that a business has on the environment and on society including an assessment of the governance practices (or lack thereof) that impact all stakeholders,” explains Certainty.

But in practice, avers Oaks, it’s not so innocuous. In fact, he states that the only logical explanation for the drastic 2015-2021 fossil-fuel investment collapse is ESG. “People have decided that they do not want to participate in the fossil fuel industry and so are cutting off capital,” he says.
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Full Article:
https://thenewamerican.com/esg-is-t...-cause-of-inflation-and-economic-destruction/

 

[Invisible Man]

Is the argument here that capital investors are freely choosing to invest their money in other things instead of petroleum, and that the lack of this amount of investment that they think otherwise would go to petroleum if these investors wanted to invest there, is somehow "choking off" petroleum exploration?

If that's what's happening, and there's not some other impediment that is making it unattractive to invest in petroleum, then at some point the opportunity to profit that is being created by these foolish investors will just attract other less foolish investors to petroleum and the problem will correct itself.

I suspect that something else is getting in the way of that.