ESG: Is This Green Iron-fist Fantasy a Major Cause of Inflation and Economic Destruction?
by Selwyn Duke
Reprinted with permission from TheNewAmerican.com
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.
The Utah treasurer made his comments on an edition of Tucker Carlson Today, a relevant excerpt of which was played yesterday evening on Tucker Carlson Tonight. Host Carlson introduced the topic, stating that the idea behind ESG “is to push corporate America left and punish companies that disagree with the orthodoxy.”
One of the entities/people responsible for this — mentioned during the Carlson segment — is multinational investment management corporation BlackRock and its chairman and CEO, billionaire Larry Fink. The New American reported on Fink’s “woke capital” schemes in the February article “Unseen Dark Hand: The Man Who Uses YOUR Money to Make Corporations Go Woke.” Read Full Article >